Share this article

Medical Device Maker Semler Scientific Stock Rises 25% After $40M Bitcoin Investment

The company announced its Bitcoin treasury strategy Tuesday morning.

Updated May 29, 2024, 4:51 p.m. Published May 28, 2024, 2:07 p.m.
Semler Scientific announces Bitcoin treasury strategy (Sean Gladwell/Getty Images)
Semler Scientific announces Bitcoin treasury strategy (Sean Gladwell/Getty Images)

Semler Scientific (SMLR) disclosed the purchase of 581 bitcoins for its treasury, sending its stock price higher by 25% in early U.S. trading hours Tuesday.

The sub-$200 million market cap (prior to this morning's price rise) company held cash and cash equivalents of $62.9 million as of the end of the first quarter, according to its most recent earnings statement. It had first quarter revenue of $15.9 million and operating cash flow of $6.1. million.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters

According to this morning's press release, Semler purchased 581 bitcoins for for $40 million, suggesting an average price of about $68,850 per token.

"Bitcoin is now a major asset class with more than $1 trillion of market value," said company Chairman Eric Semler. "We believe it has unique characteristics as a scarce and finite asset that can serve as a reasonable inflation hedge and safe haven amid global instability. We also believe its digital, architectural resilience makes it preferable to gold, which has a market value of approximately 10 times that of bitcoin."

Today's 25% gain has brought the stock to just a 2% decline on a year-over-year basis.

Plus pour vous

Exchange Review - March 2025

Exchange Review March 2025

CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.

Ce qu'il:

Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.

  • Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
  • Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions. 
  • Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.

Mais para você

Image overlay test seven

ETH's price chart. (TradingView/CoinDesk)

Dek: Image overlay test seven