Semler Scientific reports $42M paper loss on Bitcoin, floats $500M stock sale
Medical device firm Semler Scientific has lost on its Bitcoin investments but has proposed a $500 million securities sale which would partly fund more buys.
Healthcare technology firm Semler Scientific has reported paper losses on its Bitcoin holdings over the first quarter of this year as the cryptocurrency saw a heavy correction.
The firm reported a preliminary unrealized loss from the change in fair value of Bitcoin holdings of approximately $41.8 million since Dec. 31, according to a filing with the Securities and Exchange Commission on April 15.
Semler declared holdings of 3,182 Bitcoin (BTC) valued at around $263.5 million as of March 31. During the three-month period, BTC prices fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. The full correction from its all-time high to the low below $75,000 on April 7 stands at 32%.
