The semler scientific bought another $ 25 million in Bitcoin to push its holdings to nearly 5,000 BTC, but investors are not buying Buzz. Although in the approach to Treasury and huge ones in its crypto investments, the company’s medical technology company shares 22% year-to-date.
Semler bought 210 bitcoin (Btc) In the first week of July at an average price of $ 118,974 per coin, according to a filing with the US Securities and Exchange Commission (SEC). The company now holds 4,846 Bitcoin, earned about $ 455 million and now costs $ 577.9 million.
The transition from the Medical Technology business to the Bitcoin Treasury Company is supported by a $ 175 million capital increase by an offer and-market (ATM) offered in April. The company Plans to handle 105,000 BTC by 2027. If the semler achieved its goal, it would hold 0.05% of all BTCs that would ever be done.
The company’s sharing price does not positively respond to the aggressive crypto transfer. According to Google Finance, sharing price drops 18.7% years to date, up to 2.7% in the day at the time of writing.
“Semler scientific price performance shows that simple pivoting in a Bitcoin approach is not a Panacea for all business problems,” crypto analyst Nic Puckrin told Cointelegraph.
According to the analyst, the company’s hope for selling shares to supply BTC purchase can play the feelings of investors.
“The value of this shareholder, so it is thought that they are not happy, especially considering this Q2 income report does not hurt,” Puckrin said. “Not all Bitcoin treasury companies can replicate the success of the approach.”
Approach, the first company to be publicly exchanged to bet on a Bitcoin Corporate Reserve, Added more than $ 472 million BTC costs its growing stash. The company now Holding More than 601,550 BTC.
Related: The Semler Scientific has enlarged the Bitcoin Reserve with $ 20m BTC top-up
Semler Scientific faces legal questions after DoJ’s negotiation
The semler scientific is facing legal questions related to discussions in its negotiation with the US Department of Justice. At least two firms of law, Rosen law firm And the Howard G. Smith’s Lawsrecently released press releases that encourage investors to reach potential claims.
The issue appears to be associated with the semler scientific disclosure in February of discussions on its settlement with the DOJ regarding a possible violation of anti-fraud law related to the company’s QuantAflo product, According to in a March report. Following the disclosure, semler’s stock price dropped by 9.4%, according to law firm.
In April, the company said it had reached An agreement with principle with the DOJ to settle for $ 29.8 million.
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