Bitcoin Accumulation Accelerates as Semler and Strategy Expand Holdings

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Two publicly traded companies, Semler Scientific (SMLR) and Strategy (MSTR) (formerly MicroStrategy), significantly increased their Bitcoin (BTC) holdings last week, continuing a trend of institutional investment that signals growing confidence in Bitcoin as a long-term store of value. Both firms disclosed their acquisitions in SEC filings released Monday morning, reflecting strategic moves amid a bullish crypto market.

Also read: Bitwise President Urges Bitcoin Investment After Warren Buffett Sounds U.S. Dollar Alarm

Semler Scientific, a medical technology company, acquired an additional 167 BTC for $16.2 million, averaging approximately $97,000 per coin. The purchase was funded primarily through equity sales, with the company raising $39.8 million by selling 1.166 million shares under its April 15 at-the-market (ATM) offering.

$SMLR acquires 167 #Bitcoins for $16.2 million and has generated BTC Yield of 22.2% YTD. Now holding 3,634 $BTC and is now the fourth largest Bitcoin Treasury Company in the U.S.
— Eric Semler (@SemlerEric) May 5, 2025

Those new purchases follow earlier disclosures on April 25 and April 30, suggesting a coordinated buying strategy over the past several weeks.

With this latest acquisition, Semler’s total BTC holdings have grown to 3,634 coins, acquired at an average price of $88,668. At the current market value of around $94,000 per BTC, Semler’s holdings are worth over $340 million, reflecting a solid unrealized gain and positioning the company as a notable corporate holder of Bitcoin.

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Meanwhile, Strategy, the software firm led by Bitcoin advocate and Executive Chairman Michael Saylor, made a larger acquisition by purchasing 1,895 BTC for $180.3 million at an average price of $95,167 per coin. The transaction was funded through a combination of equity instruments: $128.5 million from common stock sales and $51.8 million from STRK preferred stock.

$MSTR has acquired 1,895 BTC for ~$180.3 million at ~$95,167 per bitcoin and has achieved BTC Yield of 14.0% YTD 2025. As of 5/4/2025, we hodl 555,450 $BTC acquired for ~$38.08 billion at ~$68,550 per bitcoin. $STRK $STRF https://t.co/rusgfuyCTG
— Michael Saylor (@saylor) May 5, 2025

This latest buy exhausts the remaining capacity of MicroStrategy’s previous $21 billion ATM offering initiated in early 2024. However, the company wasted no time in introducing a fresh $21 billion ATM offering, signaling its continued appetite for BTC accumulation. As of the latest filing, MicroStrategy holds a staggering 555,450 BTC, acquired at an average cost of $68,550 per coin. With Bitcoin priced at approximately $94,000, the total value of these holdings now exceeds $52 billion, resulting in significant unrealized profits.

Largest corporate BTC holders (Source: BitcoinTreasuries)

Institutional Bitcoin Strategy Gains Momentum

The purchasing activity by both Semler and Strategy reflects a broader institutional trend toward adopting BTC as a reserve asset.

While Strategy has long been at the forefront of this movement, Semler’s aggressive recent buying indicates a growing cohort of public companies willing to allocate substantial capital to Bitcoin in pursuit of long-term value preservation and diversification.

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This momentum comes at a time when market sentiment around Bitcoin remains bullish, driven by factors such as potential interest rate cuts, increasing ETF adoption, and a strong post-halving performance.

The fact that both companies used equity sales to fund their Bitcoin buys also highlights how capital markets are being leveraged to gain crypto exposure without affecting existing cash reserves.

Strategy’s substantial lead as the largest corporate holder of Bitcoin reinforces its identity as a hybrid tech and crypto investment vehicle, with Saylor doubling down on his long-held belief in Bitcoin as “digital gold.” Meanwhile, Semler’s relatively smaller—but rapidly growing—Bitcoin treasury suggests that more firms may follow a similar path, especially if BTC continues to appreciate.

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Although Strategy’s stock traded 2.7% lower in premarket action following the disclosure, the company’s long-term position on Bitcoin is likely to appeal to investors with strong crypto convictions. Semler, on the other hand, may attract attention from both crypto-aligned investors and those watching for diversification trends in the healthcare tech space.

Strategy stock (Source: Google Finance)

Author

Steven Walgenbach

Steven's passion for cryptocurrency and blockchain technology began in 2014, inspiring him to immerse himself in the field. He notably secured a top 5 world ranking in robotics. While he initially pursued a computer science degree at the University of Texas at Arlington, he chose to pause his studies after two semesters to take a more hands-on approach in advancing cryptocurrency technology. During this period, he actively worked on multiple patents related to cryptocurrency and blockchain. Additionally, Steven has explored various areas of the financial sector, including banking and financial markets, developing prototypes such as fully autonomous trading bots and intuitive interfaces that streamline blockchain integration, among other innovations.

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