Key Takeaways
- Semler Scientific achieved eligibility for options trading due to sustained share price growth driven by its Bitcoin strategy.
- The company holds over 2,000 Bitcoin worth $222 million after a strategic shift in May.
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Semler Scientific shares became eligible for options trading following six months of share price growth driven by the company’s Bitcoin strategy, according to a CoinDesk report.
Since announcing its initial Bitcoin purchases on May 28, the medical device maker’s stock has nearly tripled, pushing its market capitalization to over $650 million.
At press time, Semler’s shares are up more than 6%, trading at $79.30.
As part of its Bitcoin treasury strategy, the company has accumulated 2,084 Bitcoin for $168.6 million, with an average purchase price of approximately $81,000 per coin.
Bitcoin recently surged past $108,000 before retracing to around $106,500, bringing the value of Semler’s holdings to approximately $222 million.
According to CoinDesk, Semler also comfortably exceeds the eligibility requirements for options trading approval.
Companies typically need a minimum share price of $3 to $5, but Semler’s stock is currently trading at over $79.
Additionally, while a market capitalization of at least $75 million is required, Semler’s market cap now tops $650 million.
Daily trading volume criteria range from 500,000 to 1 million shares, and Semler consistently meets these thresholds due to heightened investor interest driven by its Bitcoin…
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