Semler’s shares have risen 53% since the company announced its first Bitcoin purchases.
Semler Scientific, a medical device company, purchased of $50 million worth of Bitcoin between May 13 and May 22, bringing the market value of the company’s Bitcoin (BTC) holdings to $474.4 million, keeping it within the top 13 of BTC Treasury companies.
According to a May 23 disclosure, Semler bought a total of 455 BTC for an average purchase price of $109,801. To buy the Bitcoin, Semler Scientific used proceeds from an at-the-market stock offering program. So far, the company has sold roughly 3 million shares of common stock for net proceeds of $115 million.
Semler Scientific’s shares have fallen 1.36% on the same day as the disclosure, though the decrease in its share price is largely in line with the Nasdaq’s performance. That index, which follows top tech stocks, is down 1% on the day.
