Health technology company Semler Scientific Inc. announced plans to increase its Bitcoin (BTC) holdings from 3,808 BTC to 105,000 BTC over the next two and a half years.
The company announced on Thursday that its goal is to hold 10,000 Bitcoin (BTC) by the end of this year, reach 42,000 BTC by the end of 2026, and ultimately achieve the target of 105,000 BTC by 2027.
Semler plans to achieve this goal through equity, debt financing, and operational cash flow, and has appointed a new director to lead the initiative.
Semler first purchased Bitcoin in May 2024 and stated that it will continue to buy and hold Bitcoin for the long term. According to BitBo data, the company has currently acquired over 3,800 BTC, ranking thirteenth among publicly traded companies in terms of Bitcoin holdings.
Source: Eric Semler
Semler's plan comes amid a trend of publicly traded companies purchasing Bitcoin, with some companies even prioritizing Bitcoin purchases over their core business operations.
If it reaches 105,000 BTC, Semler will hold 0.5% of Bitcoin's fixed supply of 21 million. Japanese investment company Metaplanet also announced on June 9 that it plans to purchase 210,000 Bitcoin by the end of 2027.
Semler stated that it has hired Bitcoin researcher Joe Burnett as "Director of Bitcoin Strategy" to lead its Bitcoin purchasing plan.
Burnett previously served as the Director of Market Research at Bitcoin financial services company Unchained and was earlier the Chief Analyst at Bitcoin mining company Blockware Solutions.
Before entering the Bitcoin industry full-time, Burnett worked at one of the Big Four accounting firms, Ernst & Young (EY).
He stated in the announcement, "The trend of incorporating Bitcoin into corporate financial reserves is clearly accelerating."
VanEck crypto researcher Matthew Sigel stated on Monday that publicly traded companies buying Bitcoin should consider completely halting their strategy if stock prices fall significantly.
He warned that if companies raise funds to purchase Bitcoin through large-scale market trading plans, and stock prices begin to approach their net asset value, they may face issues, as issuing more shares could dilute shareholder value rather than enhance it.
Sigel noted that while no publicly traded company has reached this critical point yet, Semler "is now approaching the balance point."
According to Google Finance data, Semler Scientific Inc. (SMLR) has seen its stock price drop nearly 41% this year, nearing levels before the company began purchasing Bitcoin.
As of June 3, Semler achieved a 287% return on its Bitcoin investments, with unrealized gains of $177 million.
According to data from BitcoinTreasuries.NET tracking 130 publicly traded companies holding Bitcoin, Semler's Bitcoin holdings per share amount to 0.00034, ranking fourth.
Bitcoin per share indicates the direct exposure of each share of company stock to Bitcoin and its potential impact on stock value.
Related: Canadian Sol Strategies applies to the SEC for a Nasdaq listing
Original: “Semler Scientific plans to increase Bitcoin (BTC) holdings to 105,000 by 2027”
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