As a seasoned researcher with a keen interest in both technology and finance, I find Semler Scientific’s strategic decision to invest in Bitcoin intriguing. Having closely followed the cryptocurrency market for years, I can attest that such a move is not without its risks, but also offers significant potential rewards.
According to Semler Scientific, they intend to keep purchasing Bitcoin following their third-quarter earnings report which revealed an additional $2.6 million worth of Bitcoin being acquired since October.
Doug Murphy-Chutorian, CEO of Semler Scientific, emphasized that we continue to prioritize the purchase and retention of Bitcoin, all while fostering advancement and expansion within our healthcare sector, as stated on November 4th.
According to Semler, they owned approximately 1,058 Bitcoins worth around $71 million as of November 4th. They invested $8.4 million to acquire 141 Bitcoins during the quarter ending September 30th, and since then, they purchased an extra 40 Bitcoins for roughly $2.6 million.
If Bitcoin maintains its current value around $68,000, it will result in a modest profit of approximately $72 million on the investment.
Through Bitcoin Treasures data (which was not yet updated at the time of writing), it is shown that Semler’s purchase places them as the 17th-largest Bitcoin holder among publicly traded companies, surpassing Metaplanet’s 1,018.17 BTC holdings according to current records.
Eric Semler, our chairman, stated that we’re seizing this chance to boost shareholder worth by amassing Bitcoin,” is a simple and clear paraphrase of the original statement.
He mentioned that we intend to keep buying Bitcoins using the funds generated from our business activities and the money received from our ATM program sales. Furthermore, we’re investigating further funding options that would allow us to purchase even more Bitcoin.
Semler’s stock price climbed by 3.44% during after-hours trading on November 4, reaching $31. Earlier in the day, it had dropped by 2.31%, closing at $29.97. This information was provided by Google Finance. So far this year, its stock price has decreased by 32.16%.
Semler’s Q3 results on its top and bottom lines were mixed compared to the same time last year.
In the role of an analyst, I would rephrase it as follows: “My analysis shows that our quarterly revenues decreased by 17% compared to the same quarter last year, amounting to $13.5 million in Q4 2024. However, a positive note is that our net income grew by 2%, reaching $5.6 million for this quarter, as compared to Q3 2023.
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2024-11-05 04:55