Semler Scientific hits options trading milestone with Bitcoin holdings at $222M

Key Takeaways

Semler Scientific earned eligibility for options trading due to steady growth in share prices driven by its Bitcoin strategy.
The company holds more than 2,000 Bitcoin worth $222 million after a strategic move in May.

Semler Scientific's shares became eligible for options trading after six months of share price growth driven by the company's Bitcoin strategy, according to its Report on the financial results of the annual income of CoinDesk company.

Since its first Bitcoin purchase was announced on May 28, the medical device maker's stock has nearly tripled, pushing its market capitalization to more than $650 million.

At press time, Semler shares are up more than 6%, trading at $79.30.

As part of its Bitcoin financing strategy, the company has collected 2,084 Bitcoins for $168.6 million, with an average purchase price of around $81,000 per coin.

Bitcoin recently surpassed $108,000 before retreating to around $106,500, bringing the value of Semler's holdings to around $222 million.

According to CoinDesk, Semler also comfortably exceeds the eligibility requirements for an options trading license.

Companies typically require a minimum share price of $3 to $5, but Semler's stock is currently trading at more than $79.

Additionally, while a market capitalization of at least $75 million is required, Semler's market cap now exceeds $650 million.

Daily trading volume benchmarks range from 500,000 to 1 million shares, and Semler regularly meets these thresholds due to increased investor interest driven by its Bitcoin pivot.

Semler had been confident that he was satisfied with these requirements when he applied for an options trading license on December 5.

Although no official announcement followed, CoinDesk said that brokerage platforms were showing options as available for trading starting Tuesday morning US time.

The company's rapid share price appreciation and Bitcoin-driven momentum have drawn comparisons to MicroStrategy, which has successfully used convertible notes to raise capital for Bitcoin acquisitions.