- Semler Scientific is the twelfth-largest corporate holder of Bitcoin, with 3,192 BTC worth $266.41 million.
- Bitcoin now represents nearly half Semler’s market cap; its stock is down 37% year-to-date.
- Strategy has taken losses on 15 of its last 16 BTC buys, totaling billions.
Healthcare tech firm Semler Scientific plans to deepen its bet on Bitcoin (BTC) with a $500 million securities offering—despite already sitting on a 5% loss from earlier buys.
The move comes as BTC struggles to hold $85,000. Even as prices wobble, companies like Semler, Strategy and Metaplanet appear undeterred, using the downturn as a buying opportunity.
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$500 Million Raise
According to a new filing with the U.S. Securities and Exchange Commission, Semler aims to raise $500 million via a securities offering to expand its BTC holdings and support its core healthcare business.
Semler is currently the twelfth-largest corporate Bitcoin holder , with 3,192 BTC valued at $266.41 million. That stash was acquired at an average price of $87,850—putting the company at a paper loss of around $14 million.
The company hasn’t said how much of the $500 million raise will go toward BTC. However, it’s likely that part of the funds will also go toward working capital and potential technology investments.
Strategy’s Playbook Isn’t Aging Well
Semler isn’t alone in doubling down during a downturn. Bitcoin treasury leader Strategy (formerly MicroStrategy) has racked up billions in unrealized losses over the past five months.
According to company filings, 15 out of 16 BTC buys made by Strategy since Nov. 18, 2024, are underwater. On April 14, 2025, the firm added another 3,459 BTC at $82,618, spending $285.8 million.
Strategy now holds 531,644 BTC worth $44.4 billion —acquired at an average price of $67,584.
Meanwhile, other Bitcoin treasury firms, such as Japan’s Metaplanet, have taken the recent market turmoil in their stride and appear confident that the worst of the BTC shakeout is over as they issue millions in bonds to fuel their BTC purchases.
Metaplanet currently commands 4,525 BTC worth $377.4 million. Purchased at an average cost of $85,296, the firm’s holdings are at a 2.22% loss. However, a sizeable acquisition under this average could alleviate some of these minor pains if BTC doesn’t dip further.
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