Semler Science (SMLR) Now trading at its Bitcoin premium
The company may soon buy more of the largest cryptocurrencies based on market value.
Premium, by Multiple asset value (MNAV)is 1.149, which is the first time since June 5 that it has exceeded parity. The metric compares the company’s market value (currently $550 million) to the value of its Bitcoin holdings ($477.8 million). It has become a popular way to measure companies, whether traded at a premium or discount on their bitcoin assets.
The move is crucial because historically Semler has increased its Bitcoin position only when it is able to buy more BTC without issuing new shares at a discount, thus avoiding a decrease in the ownership value of existing shareholders. It hasn’t bought anything since June 3 and currently has a holding of 4,449 BTC not far Year-end goals At least 10,000 coins.
Nevertheless, the MNAV level still shows that investors are evaluating the 15th largest Bitcoin Treasury Department, which is only slightly higher than Bitcoin holdings. This is not enough to illustrate the value of its operations, meaning they may be priced as Bitcoin rises, while discounting or ignoring the contribution of Semler’s healthcare and biotech activities.
