Semler Scientific Buy $25M for Bitcoin; Shares Fall 22%
Semler Scientific don add $25 million worth Bitcoin for dia company treasury, wey don make dia total BTC holdings reach 4,846 coins wey dey worth about $578 million. This medical technology company buy the new Bitcoin around early July with average price of $118,974 per coin, and dem finance the buy with $175 million at-the-market equity offering.
Even with dem aggressive Bitcoin plan, Semler Scientific stock don drop 22% so far this year because investors dey fear say dem shares go dilute and Q2 earnings no too good. For front, Semler Scientific wan increase dia Bitcoin treasury to 105,000 BTC by 2027 — about 0.05% of total BTC supply — wey dem go finance from more equity raises later.
The company still dey face legal wahala from U.S. Department of Justice after talks for settlement about possible fraud issues with dia QuantaFlo product. Analysts dey warn say Bitcoin fit help make brand more known, but e no fit solve operational gbege for Semler Scientific. This matter show how still get tension between corporate Bitcoin plans and how stock dey perform, dey make traders dey think well about the risk for treasury diversification against market doubt.
Neutral
Semler Scientific latest $25 million Bitcoin buy show say corporate dem still dey adopt BTC, wey fit mean sey long-term demand go increase. But the small size of the buy compared to total Bitcoin supply and the company stock dilution and legal wahala dey reduce immediate market ginger. For short term, traders fit still dey careful because investors get doubt about equity finance and operational gbege dem. Over long term, continuous corporate treasury diversification fit help keep Bitcoin price floor, but legal and financial problems for Semler Scientific fit hold back wider bullish momentum.