Semler Scientific records $222m options trading milestone in Bitcoin holdings

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Semler Scientific achieved eligibility for options trading due to the continued growth in share price driven by its Bitcoin strategy. The company holds more than 2,000 bitcoins worth $222 million after a strategic change in May.

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Shares of Semler Scientific have qualified for options trading following a six-month run of stock price growth driven by the company's bitcoin strategy, according to a CoinDesk report.

Since announcing its first bitcoin purchases on May 28, the medical device maker's stock has nearly tripled, bringing its market capitalization to more than $650 million.

At press time, Semler shares are up more than 6%, trading at $79.30.

As part of its Bitcoin treasury strategy, the company has stockpiled 2,084 bitcoins worth $168.6 million, with an average purchase price of about 81,000 cents.

Bitcoin recently rose above $108,000 before returning to $106,500, bringing the value of Semler's holdings to $222 million.

According to CoinDesk, Semler comfortably passed the eligibility requirements for options trading approval.

Companies usually need a minimum stock price of $3 to $5, but Semler's stock is currently trading above $79.

Additionally, while a minimum capitalization of $75 million is required, Semler's market value is now over $650 million.

Daily trading volume limits range from 500,000 to 1 million shares, and Semler consistently meets these limits due to high investor demand driven by the Bitcoin pillar.

Semler appeared confident it had met those requirements when it filed for options trading on Dec. 5.

While no official announcement followed, CoinDesk reported that brokerage platforms showed options for trading as of Tuesday morning US time.

The company's rapid stock price appreciation and Bitcoin-driven momentum have drawn comparisons to MicroStrategy, which has successfully used cryptocurrencies to raise capital for Bitcoin acquisitions.

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