Healthcare technology firm Semler Scientific has reported paper losses on its Bitcoin holdings over the first quarter of this year as the cryptocurrency saw a heavy correction.
The firm reported a preliminary unrealized loss from the change in fair value of Bitcoin holdings of approximately $41.8 million since Dec. 31, according to a filing with the Securities and Exchange Commission on April 15.
Semler declared holdings of 3,182 Bitcoin BTCUSD valued at around $263.5 million as of March 31. During the three-month period, BTC prices fell 12% from $93,500 at the beginning of January to $82,350 by the end of March. The full correction from its all-time high to the low below $75,000 on April 7 stands at 32%.
Semler reported expected revenues of $8.8 to $8.9 million and operational losses of $1.3 to $1.5 million for the period. It held cash and cash equivalents of approximately $10 million as of March 31.
In November, Semler Scientific…
