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Semler Scientific hits options trading milestone with Bitcoin holdings at $222M
Medical device maker Semler Scientific has achieved a significant milestone in its options trading strategy, as its shares are now eligible for options trading. This development comes on the back of sustained share price growth driven by the company’s Bitcoin strategy.
Following six months of share price appreciation, the company has seen its stock nearly triple, pushing its market capitalization to over $650 million. Semler Scientific’s stock is currently trading at $79.30, with the company having accumulated 2,084 Bitcoins worth $222 million as part of its treasury strategy.
The milestone marks a significant achievement for the company, which had initially announced its Bitcoin purchases in May. Since then, the company has held over 2,000 Bitcoins, with an average purchase price of approximately $81,000 per coin.
As a result of this growth, Semler Scientific’s shares have become eligible for options trading approval. The company now comfortably exceeds the eligibility requirements for options trading approval, which typically includes a minimum share price of $3 to $5 and market capitalization exceeding $75 million.
Additionally, the company consistently meets daily trading volume criteria ranging from 500,000 to 1 million shares due to heightened investor interest driven by its Bitcoin pivot.
Source: cryptobriefing.com
