What’s behind the sudden crypto pivot by a medical tech company, and who’s pulling the strings?
- Semler plans to grow its Bitcoin holdings to 105,000 BTC by 2027. Its stock rose 16% after unveiling a bold Bitcoin strategy and leadership appointment.
Semler Scientific, a healthcare technology company, has unveiled an ambitious plan to significantly expand its Bitcoin [BTC] holdings over the next few years.
Starting with its current reserve of 3,808 BTC, the firm intends to more than double that figure by the end of 2025, aiming for 10,000 BTC, followed by 42,000 by 2026 and an ambitious 105,000 by 2027.
To execute its bold Bitcoin acquisition strategy, Semler Scientific plans to leverage a mix of equity offerings, debt financing, and operational cash flow.
Is Joe Burnett’s appointment changing things for good?
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The company has also brought on Joe Burnett, a prominent Bitcoin advocate and market analyst, as its new Director of Bitcoin Strategy.
Burnett, known for his insights on Bitcoin’s role in modern finance, previously served as Director of Market Research at Unchained and has long championed the idea of corporate Bitcoin treasuries.
Remarking on the same, Eric Semler, chairman of Semler Scientific, noted,
“We are excited to have Joe join our Bitcoin strategy team and help drive our three-year-plan to own 105,000 Bitcoins. Joe is an analytical thought leader on Bitcoin and Bitcoin treasury companies. His expertise will be instrumental as we pursue our Bitcoin treasury strategy and aim to deliver long-term value to our stockholders.”
His appointment signals Semler’s serious commitment to Bitcoin accumulation, a journey that began in May 2024.
Expressing on the matter, Burnett said,
“The trend to adopt Bitcoin as part of corporate treasury is clearly accelerating.”
He highlighted that Bitcoin is increasingly being recognized as a superior monetary asset on a global scale.
This aggressive stance coincided with Bitcoin’s resilience above the $100K mark. At press time, the leading cryptocurrency was trading at $103,399.65, down 0.91% over the past 24 hours as per CoinMarketCap.
Technical indicators such as the RSI and MACD also reflected a bearish short-term trend.
Source: Trading View
However, this dip may be temporary. According to IntoTheBlock’s “In/Out of the Money” data, 89.04% of BTC holders were in profit, having acquired their tokens at prices lower than the current value.
In contrast, only 3.72% were “out of the money,” suggesting a broadly bullish sentiment and the potential for an upward price movement.
Source: IntoTheBlock
However, given the current geopolitical climate, a prolonged bull run for Bitcoin may take longer to emerge.
Impact on stock, the company’s profit, and much more
Despite short-term volatility, Semler Scientific remains firmly committed to Bitcoin.
As of the 3rd of June, Semler Scientific had achieved a 287% return on its Bitcoin holdings, with an unrealized gain of $177 million.
With 0.00034 BTC per share, Semler ranks fourth among public firms in Bitcoin exposure per share, an indicator of the asset’s influence on stock valuation.
Even now, just the bold announcement caused the company’s stock to surge nearly 16%, trading at $31.94, reflecting growing investor confidence in its Bitcoin-focused strategy.
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