Healthcare Tech Firm Targets 0.5% of Total BTC Supply, Appoints Director of Bitcoin Strategy
Semler Scientific Inc., a publicly traded U.S. healthcare technology company, has announced ambitious plans to grow its Bitcoin (BTC) holdings from its current stack of 3,808 BTC to a staggering 105,000 BTC by the end of 2027. The move would make Semler one of the largest corporate Bitcoin holders globally, controlling 0.5% of Bitcoin’s 21 million capped supply.
The company unveiled its roadmap on Thursday, stating that it aims to hold 10,000 BTC by the end of 2025, 42,000 BTC by 2026, and ultimately reach its 105,000 BTC goal within 30 months.
Capital Strategy to Reach Bitcoin Target
To fund its Bitcoin acquisitions, Semler says it will leverage a mix of:
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Equity issuance
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Debt financing
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Operational cash flow
This approach mirrors strategies used by other Bitcoin-focused public companies, including Strategy (formerly MicroStrategy) and Metaplanet, which recently announced its own plan to acquire 210,000 BTC by 2027.
Semler made its first Bitcoin purchase in May 2024 and has since become the 13th-largest BTC-holding public company, according to data from BitBo.
Leadership Appointment: Joe Burnett to Lead BTC Strategy
To support its aggressive acquisition goals, Semler has appointed Joe Burnett as its new Director of Bitcoin Strategy.
Burnett brings a wealth of experience in Bitcoin markets, having previously served as:
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Director of Market Research at Bitcoin financial services firm Unchained
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Head Analyst at Blockware Solutions
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Audit Associate at Big Four accounting firm EY (Ernst & Young)
“The trend to adopt Bitcoin as part of corporate treasury is clearly accelerating,” Burnett said in the announcement.
“I’m excited to help Semler lead in this movement.”
Growing Trend: Bitcoin as a Treasury Asset
Semler is part of a growing cohort of public companies prioritizing Bitcoin acquisition alongside—or even above—their core business models. The strategy is based on viewing Bitcoin as:
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A long-term store of value
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A hedge against inflation
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A strategic treasury reserve asset
Notably, Strategy holds over 580,000 BTC, and Japan’s Metaplanet has quickly followed with its own aggressive reserve goals.
Performance and Profitability
As of June 3, Semler reported:
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287% yield on its Bitcoin investments
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Unrealized gains of $177 million
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Bitcoin per share ratio of 0.00034, ranking 4th among 130 tracked Bitcoin-holding public companies (BitcoinTreasuries.NET)
The Bitcoin per share metric highlights how much BTC exposure each share offers—important for investors seeking indirect exposure to Bitcoin via equity markets.
Stock Price Decline Raises Dilution Concerns
Despite impressive Bitcoin returns, Semler’s stock performance has declined. According to Google Finance, shares of Semler Scientific (SMLR) have fallen nearly 41% year-to-date and are approaching the same level as when the company first announced its Bitcoin pivot.
This has led to concerns about shareholder dilution and the sustainability of aggressive equity raises.
VanEck Cautions Against Overextension
In a recent market note, VanEck’s head of digital assets research, Matthew Sigel, cautioned that Bitcoin-buying companies may need to reconsider their strategies if their stock prices fall below net asset value (NAV).
“If the stock trades at or near NAV, continued equity issuance can dilute rather than create value,” Sigel wrote.
“Semler is now approaching parity.”
He recommended companies:
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Pause at-the-market offerings if trading below 0.95x NAV for 10 days
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Prioritize stock buybacks when Bitcoin rises but share price lags
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Conduct strategic reviews if NAV discount persists
Such strategies could help avoid a scenario where Bitcoin investments fail to translate into shareholder gains.
Semler’s Strategy: Risk or Vision?
Semler’s Bitcoin-centric strategy is bold, especially for a firm rooted in healthcare technology. Its pivot represents a broader trend of companies using balance sheets to bet on crypto as a macroeconomic hedge and investor magnet.
Critics argue the company is overextending beyond its operational focus, while supporters claim it is innovating ahead of the curve by embracing Bitcoin as digital gold.
Conclusion
With a target of 105,000 BTC by 2027, Semler Scientific is making a high-stakes commitment to Bitcoin as a treasury reserve. Backed by an experienced strategist and a clear acquisition roadmap, the company now faces the challenge of balancing shareholder value, financial performance, and crypto market volatility.
If successful, Semler could join the ranks of the most influential corporate Bitcoin holders in the world. If not, it risks becoming a case study in how overexposure to crypto assets can pressure corporate equity and investor confidence.
