Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has…

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Last updated: 

June 21, 2025

Eric Semler, chairman of Semler Scientific Inc., believes many hedge funds remain unconvinced about Bitcoin’s long-term viability beyond the Trump administration.

Speaking in an interview with Natalie Brunell on Coin Stories, Semler said traditional finance still views Bitcoin as a fleeting trend that may not survive political transition.

“I think that they think it is a fly-by-night concept and that it is probably going to, after the Trump administration, go back down a lot,” said Semler, who also founded TCS Capital Management.

Trump’s Crypto Push Faces Uncertainty Beyond His Term

His remarks come as debate grows over whether U.S. political support for crypto will endure past President Trump’s term.

While Trump recently endorsed a Bitcoin Strategic Reserve, figures like JAN3 CEO Samson Mow have warned that such initiatives could quickly unravel under a different administration.

Despite broader skepticism, Semler has gone in the opposite direction. In May, Semler Scientific became only the second U.S. public company to adopt a Bitcoin treasury strategy.

The firm currently holds 4,449 BTC and plans to ramp that up to 105,000 BTC within two and a half years, targeting 10,000 BTC by year-end.

For Semler, institutional doubt is part of the opportunity. “When you’re making a bet on something that the majority doesn’t believe in, and you’re right, you make so much more money,” he said.

“I love the negativity; I’m a contrarian investor,” he added, noting that his most profitable investments came when others were dismissive. “Those are the types of investments that have the highest returns.”

While some hedge fund managers are still hesitant, the broader trend suggests rising crypto exposure.

A 2024 survey by the Alternative Investment Management Association and PwC showed that 47% of hedge fund managers now hold some level of crypto exposure, up from 29% in 2023 and 37% in 2022.

Looking further back, a 2021 Intertrust Global survey of hedge fund CFOs showed that nearly all expected to allocate 7.2% of their portfolios to crypto by 2026.

VanEck Warns BTC Treasury Strategy May Backfire

Just recently, VanEck’s head of digital asset research, Matthew Sigel, raised concerns about the Bitcoin treasury strategies used by certain public companies, suggesting that continued accumulation of BTC could soon harm shareholders more than help.

He specifically criticized the use of at-the-market (ATM) share issuance programs, warning that they can become dilutive when stock prices approach the company’s Bitcoin net asset value (NAV).

Sigel proposed several measures to prevent value erosion, including pausing ATM programs if a company’s stock trades below 0.95x NAV for over 10 days.

He drew comparisons to past failures in the crypto mining sector, where excessive dilution and executive pay led to major shareholder losses.

As an example, he cited Semler Scientific, a medical tech firm that entered the BTC space in 2024.

Despite acquiring 3,808 BTC, its stock has fallen over 45%, and its mNAV has dropped to 0.82x.

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Sujha Sundararajan

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Sujha Sundararajan

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Sujha has been recognised as Women In Crypto 2024 by BeInCrypto for her leadership in crypto journalism.

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Last updated: 

June 20, 2025

Healthcare infrastructure firm Semler Scientific is planning to accumulate 10,000 Bitcoin by this year and targets 105,000 Bitcoin by 2027. The company has appointed BTC expert Joe Burnett as Director of Bitcoin Strategy to help lead its ambitious plans.

Semler Scientific already holds 4,449 Bitcoin in its stash and is the second U.S. publicly traded company to adopt Bitcoin as its primary treasury reserve asset.

Per the Thursday announcement, the firm aims to use proceeds from equity and debt financings and cash flows from operations.

Former Director at Unchained to Lead Semler Scientific’s BTC Strategy

Bitcoin research expert Joe Burnett recently told Cryptonews that BTC is “more scarce and portable than gold.” He has been publicly making the case for Bitcoin as the world’s most advanced form of monetary tech.

Burnett served as the director of market research at Unchained before joining Semler Scientific, contributing to helping institutional Bitcoin adoption by offering collaborative custody solutions.

“We are excited to have Joe join our Bitcoin strategy team and help drive our three-year-plan to own 105,000 Bitcoins,” said Eric Semler, chairman of Semler Scientific.

“It’s time to build one of the most valuable companies in the world,” wrote Burnett on X.

Corporate Bitcoin Holders Maintain Similar Goals

Semler Scientific’s aim to accumulate 10,000 Bitcoin by 2025 mirrors some of the leading Bitcoin holders’ strategy.

For instance, Japanese investment giant Metaplanet has similar plans to accumulate 10,000 BTC by this year and has already reached its target this month. The Tokyo-listed firm aims to amass 210,000 BTC by 2027, targeting 1% of Bitcoin’s total supply.

Early this month, Semler Scientific publicly announced it has increased its Bitcoin holdings, acquiring 185 Bitcoin between May 23 and June 3 for $20 million.

SMLR Stock Surges Nearly 12%

Following the ambitious BTC accumulation announcement on Thursday, stocks of Semler Scientific (SMLR) surged 11.95%, to $31.94 during after hours.

“We continue to accretively grow our bitcoin arsenal using operating cash flow and proceeds from debt and equity financings,” said Eric Semler in May, disclosing the company’s first quarter financial results.

Meanwhile, Bitcoin is currently trading at $104,507 at press time, registering a 24-hour loss of 0.77%, per CoinMarketCap.

Semler Scientific, the second public company in the United States, has adopted Bitcoin as its main Treasury protection asset, appointed Joe Burnett as director of Bitcoin Strategy, and announced plans to accumulate Bitcoin. Healthcare Technology Company holds 10,000 Bitcoins by the end of 2025, 42,000 by 2026 and 105,000 by 2027.

This announcement comes as Semler continues to expand Bitcoin Holdings. The company recently acquired 185 Bitcoin for $20 million between May 23 and June 3, bringing total holdings to 4,449 BTC, worth around $446.2 million at its current price.

“We look forward to Joe joining the Bitcoin Strategy Team and driving his three-year plan to own 105,000 Bitcoin,” said Eric Semler, chairman of Semler Scientific. “Joe is an analytical thought leader in Bitcoin and Bitcoin finance companies. His expertise contributes as he pursues Bitcoin financial strategies and aims to provide long-term value to shareholders.”

Since adopting the Bitcoin standard in May 2024, Semler “has achieved a BTC yield of approximately 287% and a BTC $177 million by June 3, 2025,” Semler said. The company currently reports a BTC yield from the start of the year of 26.7%.

As former market research director for Unchained, Burnett helped support the adoption of Bitcoin on the system by providing joint custody solutions. He previously served as head analyst for Blockware Solutions, helping to launch one of the largest Bitcoin mining platforms in the United States.

“We are witnessing global monetization as a great form of money in Bitcoin,” Burnett said. “The trend to adopt Bitcoin as part of the Corporate Treasury has clearly accelerated. SemlerScientific is at the forefront of the movement as the second public US company to adopt the Bitcoin standard.”

Semler’s Bitcoin strategy includes using revenue from equity and debt financing and operational cash flows. Since launching its market offering program in April 2025, the company has raised approximately $136.2 million through stock sales.

The company acquired 4,449 Bitcoin for $40 million with an average price of $92,158 per Bitcoin. “We continue to use our operating cash flow to increase Bitcoin Arsenal, increasing revenue from debt and equity funding,” Semler said.

The US medical tech firm Semler Scientific has added another $50 million worth of Bitcoin (BTC) to its corporate treasury.

A new filing with the U.S. Securities and Exchange Commission (SEC) indicates the firm acquired 455 Bitcoin between May 13th and May 22nd at an average purchase price of $109,801 per BTC, including fees and expenses.

Semler now holds 4,264 Bitcoin, which it acquired for an aggregate price of $390 million at an average purchase price of $91,471 per BTC.

With BTC trading at $107,322 at time of writing, the medical tech’s holdings are currently worth more than $457.6 million.  The top-ranked crypto asset by market cap is down nearly 4% in the past 24 hours after hitting a new all-time high of $111,814 on Thursday.

Eric Semler, the founder and chairman of the firm’s board of directors, notes his company has generated a BTC yield of 25.8% year-to-date.

Data from BitcoinTreasuries.net indicates that Semler Scientific is now the 13th-ranked company in the world in terms of BTC holdings.

In May 2024, the firm became the second publicly traded company in the US to adopt a Bitcoin treasury policy, following Strategy (formerly known as MicroStrategy). Strategy, which first started investing in the asset back in 2020, has the largest corporate Bitcoin treasury in the world and currently holds 576,230 BTC worth $62.14 billion.

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Medical equipment company Semler Scientific (SMLR) announced its third-largest bitcoin BTC purchase since adopting a bitcoin standard roughly one year ago.

The company in the ten days ending May 22 acquired 455 BTC for $50 million, averaging $109,801 per bitcoin. This acquisition, funded through its at-the-market (ATM) equity offering program, brings Semler’s total holdings to 4,264 BTC, purchased for $390 million and currently valued at more than $450 million.

To date, the company has issued 3,003,488 shares under its April 15 $500 million ATM program, raising $114.8 million.

Now roundly used as a key performance indicator by most companies adding bitcoin to their balance sheet, Semler’s BTC Yield, has risen to 25.8% in 2025. BTC Yield measures the year-to-date percentage change in the ratio of total bitcoin holdings to assumed diluted shares outstanding.

SMLR shares are lower by 5.3% in premarket trading alongside a sizable decline in the price of bitcoin Friday morning to $108,300.

The US medical tech firm Semler Scientific is accumulating another round of Bitcoin (BTC) worth tens of millions of dollars, bringing its total to just over 3,300 BTC.

In a new thread on the social media platform X, Eric Semler, founder and chairman of the board of directors, says that Semler Scientific has acquired 111 more BTC worth $10 million, adding that the company “is just getting started.”

In a recent press release, Semler Scientific, which adopted the top crypto asset by market cap as its primary reserve asset in May 2024, discloses that its average cost of its BTC trove is just under $88,000 per token.

“Semler Scientific acquired 111 Bitcoin for $10.0 million with an average purchase price of $90,124 per Bitcoin… As of April 24, 2025, Semler Scientific held 3,303 Bitcoin, which were acquired for an aggregate $290.4 million at an average purchase price of $87,929 per Bitcoin.”

According to the firm’s data, it has generated a BTC yield – or the metric used by the firm to keep track of the success of its Bitcoin buying strategy – of 23.5% year-to-date.

In December, the California-based company purchased 303 Bitcoin, at the time bringing its stash to 1,873 BTC purchased for $147.1 million at $78,553 per token.

Data from Bitcoin Treasuries indicates that Semler Scientific is now the 14th-ranked company in terms of BTC holdings.

The flagship digital asset is trading for $95,068 at time of writing, a 1.8% increase during the last 24 hours.

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In a statement released on April 25, Semler confirmed the acquisition of 111 BTC since February 14 at an average price of $90,000 per coin.

The latest purchase brings the company’s total Bitcoin treasury to over 3,300 BTC, valued at approximately $300 million based on current market prices.

Semler Reports 23.5% Bitcoin Yield

Semler said that its Bitcoin strategy has delivered a 23.5% Bitcoin yield year-to-date, a key performance indicator (KPI) the company uses to measure shareholder value through BTC accumulation.

The Bitcoin yield reflects the ratio of Bitcoin holdings relative to outstanding shares, effectively increasing each shareholder’s exposure to the asset.

“Semler Scientific uses BTC Yield as a KPI to assess the performance of its strategy of acquiring Bitcoin in a manner it believes is accretive to stockholders,” the company noted.

Semler, traditionally focused on developing diagnostic tools for chronic disease detection, has partially financed its Bitcoin purchases by issuing $125 million in new stock.

In January, the firm also announced plans to raise an additional $75 million through a private offering of convertible senior notes.

The company’s pivot follows a broader trend sparked by Michael Saylor’s Strategy (formerly MicroStrategy), whose aggressive Bitcoin accumulation has driven its stock price up over 350% in 2024.

Inspired by Strategy’s success, several firms, including Semler, have adopted Bitcoin as a treasury reserve asset.

As of April 25, public companies collectively hold around $71 billion in Bitcoin, according to BitcoinTreasuries.NET.

Strategy remains the largest corporate holder, with a stash exceeding $50 billion, including a recent purchase of 6,556 BTC at an average price of $84,785 per coin.

Public Companies Boost Bitcoin Holdings by 16% in Q1 2025

Publicly traded companies increased their Bitcoin holdings by 16.1% in the first quarter of 2025, signaling continued institutional interest in the leading cryptocurrency despite market volatility.

According to crypto asset manager Bitwise, total corporate Bitcoin holdings climbed to approximately 688,000 BTC by the end of Q1, with companies adding 95,431 BTC over the three-month period.

Bitwise reported the combined value of these holdings reached $56.7 billion, based on a Q1 closing price of $82,445 per Bitcoin—representing a 2.2% increase in value.

The adoption of Bitcoin has also found momentum statewide in the U.S.

According to data from Bitcoin Law, 47 Bitcoin reserve bills have been introduced across 26 states, with 41 currently active.

Just recently, Kentucky Governor Andy Beshear officially signed House Bill 701, known as the “Bitcoin Rights” bill, into law—making the state one of the latest to enact legislation protecting digital asset users and operations.

The post Semler Scientific Adds $10M in Bitcoin to Treasury Amid Strategic Shift appeared first on Cryptonews.