INSUBCONTINENT EXCLUSIVE:
Semler Scientific: Inside their Bitcoin treasury arms race Strategy kicked off the corporate Bitcoin boom, but in 2025, the real
competition is Metaplanet vs
battlegrounds.On July 7, 2025, Metaplanet, listed in Tokyo, added 2,205 BTC (around $238.7 million), bringing its total to 15,555 BTC
Its BTC Yield, a measure of Bitcoin acquired relative to equity issued, now sits at 416%.That same day, Semler Scientific, a Nasdaq-listed
health-tech firm, added 187 BTC (around $20 million), growing its treasury to 4,636 BTC (around $502 million)
Its BTC Yield is 29%.Together, they represent a new front in the Bitcoin corporate treasury race, adding fuel to the ongoing Bitcoin
treasury war among the biggest Bitcoin holding companies
How Metaplanet and Semler Scientific are building Bitcoin-focused balance sheets Metaplanet and Semler Scientific
calls it a once-in-a-generation play
To fund it, the company issues preferred equity, avoiding debt and giving it more flexibility.Beyond holding BTC, Metaplanet plans to use
its reserves as collateral to acquire fintechs or even a licensed digital bank
This is the foundation of the Metaplanet Bitcoin strategy.Did you know? Fidelity is now the largest shareholder in Metaplanet, owning
entered the space much later, announcing its Bitcoin investment strategy in mid-2024
It aims to reach 10,000 BTC by end-2025 and 105,000 BTC by 2027, putting it among the top Bitcoin whale companies
Bitcoin: Metaplanet and Semler Scientific take different risks for the same goal Metaplanet and Semler Scientific are using
dilution risk, which some investors prefer
Semler was primarily a medical device company focused on artery-testing equipment
Rising Bitcoin bets, rising concerns: Is corporate stacking outpacing fundamentals? Public companies are ramping
up Bitcoin buys in 2025, but rising risks, criticism and valuation concerns are starting to surface.As of mid-2025, public companies hold
over 852,000 BTC, and the number keeps rising.Metaplanet is leaning in hard: no debt, no plans to sell BTC and a long-term play to leverage
its holdings into financial acquisitions
The comparison to Metaplanet vs
Strategy is already being made, but Metaplanet is writing its own playbook.Semler is more measured
However, its share price is down 41% this year and now trades near its net asset value
tracker sites making these numbers more visible, some worry companies are chasing optics over fundamentals.Did you know? In 2024, even as it
doubled its Bitcoin holdings, Strategy reduced its workforce by more than 20%, cutting approximately 400 jobs as it focused increasingly on
its BTC treasury strategy
Who wins the Bitcoin treasury war in 2025? Strategy still leads by far with 601,550 BTC
Bitcoin whale companies alongside national governments and exchange-traded funds (ETFs)
That can drive growth during a bull market but creates real fragility during downturns
