Semler Scientific plans $500 million Bitcoin purchase after DOJ deal

Semler Scientific, a healthcare technology company, is preparing to raise $500 million in new securities, partly to expand its Bitcoin (CRYPTO:BTC) holdings, according to recent filings with the U.S. Securities and Exchange Commission (SEC).

The company recently reached a $29.75 million settlement with the Department of Justice (DOJ) over marketing practices related to its QuantaFlo product.

The investigation, which began in 2017, focused on alleged violations of federal anti-fraud laws in how Semler marketed the product.

While the settlement is not yet finalised, Semler has secured a financing strategy to cover the payment.

Instead of selling its existing cryptocurrency assets, Semler plans to use a loan from Coinbase, secured by its Bitcoin reserves, to fund the settlement.

The company currently holds approximately 3,190 Bitcoins valued at about $267 million at current market prices.

This approach allows Semler to meet its legal obligations without liquidating its crypto assets, preserving its financial position.

In addition to the settlement payment, the $500 million securities filing signals Semler’s intent to significantly increase its Bitcoin holdings.

The filing does not specify the timing of the securities offering or future Bitcoin purchases.

Semler’s move aligns with a broader trend of companies accumulating Bitcoin despite market volatility.

For example, Michael Saylor’s firm recently acquired 3,450 Bitcoins worth $286 million, raising its total holdings to over 531,000 Bitcoins.

Another company, Metaplanet, purchased $26 million worth of Bitcoin during the same period.

Market analysts remain optimistic about Bitcoin’s prospects, with some forecasting prices reaching $137,000, though no specific timeline has been given.

Semler’s CEO has not commented publicly on the timing or scale of the planned Bitcoin acquisitions.

According to the SEC filings, the company continues to prioritise growing its cryptocurrency assets alongside resolving its DOJ settlement.

At the time of reporting, the Bitcoin (BTC) price was $84,666.55.