Key takeaways
- Semler Scientific achieved options trading qualification due to sustained share price growth driven by its Bitcoin strategy.
- The company has over 2,000 Bitcoin worth $222 million after a strategic shift in May.
Semler Scientific shares became eligible for options trading after six months of share price growth driven by the company’s Bitcoin strategy, according to a CoinDesk report.
Since announcing its first 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 were up more than 6% and trading at $79.30.
As part of its Bitcoin treasury strategy, the company has accumulated 2,084 Bitcoins for $168.6 million, with an average purchase price of about $81,000 per coin.
Bitcoin recently rose to over $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 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 capitalization is now over $650 million.
Daily trading volume criteria range from 500,000 to 1 million shares, and Semler consistently meets these thresholds due to increased investor interest driven by its Bitcoin pivot.
Semler had appeared confident that it met those requirements when it applied for approval to trade in options on December 5.
While no official announcement followed, CoinDesk reported that brokerage platforms showed options as available for trading as of Tuesday morning US hours.
The company’s rapid stock price rise and Bitcoin-fueled momentum have drawn comparisons to MicroStrategy, which has successfully leveraged convertible notes to raise capital for Bitcoin acquisitions.
