Semler Scientific Reaches Milestone in Options Trading Following Bitcoin Holdings Growth
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Semler Scientific hits options trading milestone with Bitcoin holdings at $222M
Semler Scientific has reached a significant milestone by becoming eligible for options trading after its share price surged nearly threefold following the announcement of its Bitcoin strategy in May. The medical device maker now holds over 2,000 Bitcoins worth $222 million.
According to a recent report, Semler’s shares have more than tripled since it announced its decision to invest in Bitcoin, with its market capitalization now exceeding $650 million. As a result, the company has not only exceeded the minimum share price requirement for options trading but also comfortably meets other eligibility criteria, including a daily trading volume of at least 500,000 shares.
As a direct outcome of this growth, Semler’s stock is currently trading above $79, far surpassing the typical threshold of $3 to $5 required for options approval. Additionally, its market capitalization now stands at over $650 million, vastly exceeding the mandatory minimum requirement of $75 million.
It is worth noting that Semler had already filed for options trading approval on December 5, despite no official announcement being made at the time. However, brokerage platforms have reportedly started showing options available for trading starting Tuesday morning US hours, confirming the company’s eligibility.
Semler’s decision to invest in Bitcoin has drawn comparisons to MicroStrategy, another prominent company that has successfully leveraged convertible notes to raise capital and purchase more Bitcoins. The successful execution of this strategy has led some investors to speculate on potential future price movements by leveraging options trading.
In a statement, Semler confirmed the milestone achievement, citing its commitment to providing its shareholders with increased flexibility in managing their risk exposure and speculation opportunities.
Semler’s Bitcoin holdings have seen significant growth over the past few months, demonstrating the company’s long-term vision for incorporating cryptocurrency into its financial strategy.
Source: cryptobriefing.com
