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Semler Scientific has purchased an additional 237 Bitcoin for approximately $23 million, raising its total holdings to 2,321 BTC valued at nearly $192 million. The company, which has issued over $120 million in stock to finance its Bitcoin strategy, reported a significant increase in its "Bitcoin yield" from 72.6% to 99.3%. This move is part of Semler's efforts to emerge from "zombie" status, as it focuses on acquiring and holding Bitcoin amidst a growing trend of corporate investments in the cryptocurrency.
Trading activity is subdued ahead of the Christmas holidays, with many market participants taking a break. The Dow is up 13% this year, while the Nasdaq 100 has nearly doubled that gain, despite Walmart shares dropping over 3% due to a lawsuit. Oil prices fell as the dollar strengthened, impacting crude costs.
Matador Technologies, a Canadian firm focused on real-world asset tokenization, has added Bitcoin to its treasury as part of a long-term capital preservation strategy. The company plans to invest $4.5 million in Bitcoin and convert most of its cash from Canadian to US dollars, citing concerns over the devaluation of Canadian assets. This move supports the development of a digital gold platform that will allow users to buy, trade, and store tokenized gold backed by physical reserves.
Tether has announced a $775 million investment in Rumble, a YouTube alternative, with plans to use $250 million for growth initiatives and the rest for a self-tender offer for Class A common stock. Tether will acquire 103,333,333 shares at $7.50 each, while Rumble's CEO Chris Pavlovski retains control. Both companies emphasize shared values of decentralization and free expression, with Tether exploring crypto payment solutions for Rumble.
Tether has invested $775 million in Rumble, a video-sharing platform that champions free speech and aims to compete with YouTube. CEO Paolo Ardonio emphasized the importance of independence and resilience, while Rumble's CEO Chris Pavlovski expressed excitement about their partnership and plans to challenge YouTube's dominance. Following the investment announcement, Rumble's share price surged by over 51%.
Tether has announced a $775 million investment in Rumble, a video streaming platform that promotes free speech and positions itself as a YouTube alternative. The deal includes an initial cash investment of $250 million and will grant Tether 103.3 million shares at $7.50 each, expected to close in early 2025. Rumble plans to create a Bitcoin reserve, aiming to purchase up to $20 million in Bitcoin, reflecting its belief in the cryptocurrency's potential as a hedge against inflation.
Rumble has secured a $775 million investment from Tether, with plans to use $250 million for growth initiatives and the rest for a self-tender offer for up to 70 million shares. Following the announcement, Rumble's shares surged 35% in post-market trading. Tether aims to explore advertising and crypto payment solutions with Rumble, aligning their missions around decentralization and free speech. The transaction is expected to close in Q1 2025, pending regulatory approvals.
Quantum BioPharma has invested $1 million in Bitcoin and other cryptocurrencies to diversify its treasury, joining a trend among companies seeking inflation hedges. Following the announcement, its Nasdaq shares fell nearly 10%. The firm is now positioned to conduct transactions in cryptocurrencies, reflecting a broader corporate shift towards digital assets.
Billionaire Thomas Peterffy, Chairman of Interactive Brokers, recommends a cautious approach to Bitcoin investment, suggesting a 2% to 3% allocation of net worth, while warning that exceeding 10% could be "too dangerous." He expressed concerns about the volatile nature of cryptocurrencies, emphasizing their lack of intrinsic value and the risks of excessive leverage leading to potential market crashes.Peterffy's views resonate with industry veterans like Bill Miller, who advocate for modest Bitcoin allocations. Meanwhile, businesses are increasingly incorporating Bitcoin into their treasury reserves, with firms like Rumble and various biotech companies allocating significant funds to the cryptocurrency as a hedge against inflation.
Bitcoin experienced a dip to $94,500 after Microsoft shareholders rejected a treasury proposal, but analysts remain optimistic about a potential rise to $275,000, citing a bullish cup and handle pattern. Despite the recent volatility, Bitcoin quickly rebounded to near $100,000, supported by favorable US inflation data and increasing corporate adoption. Analysts emphasize the importance of maintaining support at $90,000 to avoid further declines.
RumbleOn, Inc.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
semler scientific invests 23 million in additional bitcoin holdings
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