Semler Scientific Piles Into Bitcoin While MicroStrategy Hits Pause

Key Takeaways

• Semler Scientific expanded its Bitcoin holdings.
• Bitcoin now accounts for over half of Semler’s total market capitalization.
• MicroStrategy halts its 12-week buying spree, raising questions about market timing and strategy.

As Bitcoin hovers near $100,000, corporate balance sheets are evolving, with companies either doubling down or stepping back.

Semler Scientific has intensified its Bitcoin accumulation, while MicroStrategy, long the corporate face of BTC adoption, has unexpectedly paused its purchases after three months of aggressive buying.

Semler Scientific Adds More BTC to Balance Sheet

The medical technology company expanded its Bitcoin reserves with an additional 871 BTC, bringing its total holdings to 3,192 BTC.

Between Jan. 11 and Feb. 3, the company spent $88.5 million, funding the purchase through convertible bond issuance and a partial divestment from Monarch Medical Technologies.

The latest batch of Bitcoin was secured at an average price of $101,616 per BTC, reflecting the company’s continued conviction in the asset despite volatile market conditions.

Since initiating its Bitcoin strategy in July 2024, Semler has seen a 152% return on its holdings, with its total BTC investment of $280.4 million now making up more than half of its $484.2 million market cap.

This positions Semler Scientific as one of the most Bitcoin-heavy public companies, outpacing even MicroStrategy in the BTC-to-market cap ratio.

MicroStrategy Hits Pause on Bitcoin Buying

In a surprising move, MicroStrategy has not reported any new Bitcoin purchases after 12 weeks of consistent accumulation.

Co-founder Michael Saylor’s Feb. 3 announcement confirmed the pause, though he did not provide a reason.

Since launching its Bitcoin investment strategy, MicroStrategy has amassed 471,107 BTC at an average price of $64,524 per BTC, totaling $30.39 billion in holdings.