Is Semler Scientific Flashing a Warning Sign for Bitcoin Treasury Firms?

Health Technology Health Technology Company Semler Scientific, which has been listed on Nasdaq, is appreciated in a premium from a razor compared to his Bitcoin Holdings, according to the company website.

The company MNAV, or multiple property value, was recently 1.07. This means that the company is $ 498.5 million entrepreneurial values ​​- accounting for Semler’s market cap, long and cash balance – was just above that of 4,449 bitcoins worth $ 466 million.

Matthew Sigel, Chief of Research Digital Property in Vaneck, said Decipher That “Semler is now in a position where many companies with treasury coffers can be found in the next quarterly: trading near NAV -a to deal with pressure to show capital discipline.”

Decipher Came to Semler for an additional comment.

Bitcoin cashier companies like Semler seek to maximize the value of the shareholder by increasing the amount of bitcoin that they own per share. When the companies fall under one, it can no longer grow its bitcoin per share by selling shares and using revenue to buy multiple bitcoins.

When Semler discovered his latest purchase of bitcoin this month, the company announced the UA regulatory submission that he recently bought 185 Bitcoin for $ 20 million. Semler also hinted that he could sell usual shares in the amount of $ 364 million through a market or ATM program.

In a recent interview for DecipherBen Werkman, CEO of Investments in the SWAN Bitcoin Financial Services Company, explained That the discount can invest in investors at the Bitcoin Treasury company if they begin to suspect that the company can no longer raise funds in a manner used by shareholders.

“The company has several strategic levers that it can withdraw for value stabilization,” Sigel said. “If the administration priority to shareholders, I believe that the risk/reward at current levels is favorable.”

To x, earlier, Twitter, Sigel said Bitcoin Treasury Companies can adopt protective measures, including pausing “ATM issuance if shares trade below 0.95 times [net asset value] For 10 or more days of trading “and priority” Redemption when BTC appreciates “, among other options.

In recent months, MNAV has become a popular metric for comparing Bitcoin cash register, such as everyone, from cannabis cultivator to property manager, has been trending. But Semler is not a relatively new face, buying his first Bitcoin last May.

In April Semler said That he has reached a grocer’s settlement of $ 30 million with the US Ministry of Justice to resolve the charges of federal violations of the law against a misdemeanor relating to his marketing product Quantaflo. Tuesday, lawyer’s company Rosen, lawyer’s law rights investor rights, said He would start exploring the potential requirements of securities on behalf of the shareholder.

Semler’s share price closed on Tuesday by 6.5%, fell to $ 28.30, according to Yahoo finance. The company has the 10th largest bitcoin treasury according to the dollar value, just behind the Videoigara Gamestop seller, according to Bitcoin cash register.

Sigel noticed This “inherited business issues that have worsened” can be weighed in Semler’s MNAV, together with a small market limit, low liquidity and limited issuing of bonds.

Some analysts warned that if Bitcoin price drops below a certain level, it could force companies to sell their bitcoin by turning Pressure pressure This year.

Edited by James Rubin