Semler Scientific to Add BTC to its Holdings Despite Losses
Healthcare technology firm Semler Scientific has announced paper losses on its Bitcoin holdings over the first quarter as cryptocurrency values experienced a significant correction.
According to a filing with the Securities and Exchange Commission on April 15, the firm reported an unrealized loss of approximately $41.8 million in the fair value of its Bitcoin holdings since December 31.
Semler held 3,182 Bitcoin valued at around $263.5 million as of March 31. During the three-month period, Bitcoin prices fell 12%, from $93,500 in early January to $82,350 by the end of March, with a total correction reaching 32% from its all-time high to below $75,000 on April 7.
For this period, Semler reported expected revenues between $8.8 and $8.9 million, and operational losses ranging from $1.3 to $1.5 million. The company had approximately $10 million in cash and cash equivalents as of March 31.
