Semler Scientific’s (SMLR) sharp decline attracts the eyes of Bitcoin Bull Tom Lee
The recent waves of companies that add bitcoin to their balance sheets have not produced positive results. The Semler Scientific (SMLR), a medical technology companies that are pivoted by the Bitcoin Treasury approach, has seen its stock dropping nearly 50% in 2025 to almost a level more than a year ago when it first started accumulating BTC.
The company’s premium on the Net Asset (NAV) value, often referred to as many-to-Nav (MNAV), drops below 1x. On a basic sharing basis, its market cap seated at about $ 420 million compared to Bitcoin’s holdings worth about $ 491 million (4,449 BTC), putting the NAV ratio to 0.859x only, according to Strategy-tracker.
The MNAV below 1.0 is important because the main mechanism of the semler for accumulating bitcoin is to raise capital by sharing sales. However, for the approach to selling shares to be acclative to shareholders, the stock should trade in a premium on the amount of Bitcoin handling of the company. At the price of sharing at or below the NAV, the release of new shares will reduce existing shareholders without increasing the proportional value, which effectively stops the company’s ability to pursue further bitcoin accumulation under the current approach.
The Bitcoin Bull Tom Lee, head of Fundstrat research, however, the view of the semler scientific As an opportunity In the “Granny Shot” of his firm Research portfolio. The Granny Shot refers to an unconventional way of shooting free throws in the basketball portfolio and the Granny Shot portfolio of the Fundstrat is intended to emphasize the unusual approach of the research company.
