Strive Acquires Semler Scientific, Becomes Top 11 Corporate Bitcoin...

Strive, Inc. has secured stockholder approval for its acquisition of Semler Scientific, marking a pivotal moment in the evolution of Bitcoin treasury companies. The all-stock deal significantly expands Strive's digital asset footprint.

The transaction brings Semler Scientific's substantial Bitcoin holdings into the fold, pushing the combined entity into the top tier of corporate cryptocurrency holders worldwide. This strategic move reinforces the growing trend of public companies adopting Bitcoin as a primary treasury reserve asset.

The acquisition represents a historic first in the cryptocurrency sector. Strive has successfully completed the first acquisition of a publicly traded Bitcoin treasury company, setting a precedent for future consolidation in the space.

The financial mechanics of the deal are substantial. The all-stock transaction incorporates Semler Scientific's entire Bitcoin treasury, which consists of 5,048.1 Bitcoin. This addition alone represents a massive influx of digital assets for Strive.

In parallel with the acquisition, Strive executed a significant open-market purchase. The company acquired an additional 123 Bitcoin for its corporate treasury. This purchase was made at an average price of $91,561 per coin, resulting in a total expenditure of approximately $11.26 million, inclusive of all fees and expenses.

These combined strategic moves result in a formidable treasury position. Post-acquisition, the company's total Bitcoin holdings will reach 12,797.9 BTC. This figure places the combined entity firmly among the world's most significant corporate Bitcoin holders.

The new treasury size catapults the company into an elite group. The combined entity surpasses several high-profile corporate holders, including electric vehicle manufacturer Tesla and Trump Media & Technology Group.

This strategic elevation secures the company's position as the 11th largest corporate Bitcoin holder globally. This ranking is a powerful signal of the company's commitment to a Bitcoin-centric strategy and its ability to execute large-scale digital asset acquisitions.

The deal's structure reflects a focused vision for shareholder value. Strive has outlined clear plans to streamline operations and optimize the acquired assets.

The company intends to:

• Monetize Semler Scientific's operating business within 12 months
• Explore retiring Semler's $100 million convertible note
• Investigate options for the $20 million Coinbase loan
• Maintain a simplified, equity-focused corporate structure

Strive's leadership emphasized the strategic importance of the acquisition. Matt Cole, Chairman and CEO, highlighted the execution and historical significance of the deal for shareholders.

I’m proud of the execution the Strive team has delivered for our shareholders, making history towards completing the first acquisition of a publicly traded Bitcoin treasury company.

Cole also pointed to the immediate financial benefits. The deal is projected to have a significant positive impact on the company's performance metrics.

The Semler Scientific deal will continue Strive’s leading yield generation since the inception of our Bitcoin strategy, boosting our Q1 2026 Bitcoin yield to over 15%.

The company's strategy extends beyond simple accumulation. Jeff Walton, Chief Risk Officer, explained the unique risk profile of their approach, contrasting it with traditional corporate assets. He noted that the balance sheet is comprised of a transparent, digitally native asset, allowing risk to be observed and measured in real time, unlike traditional illiquid assets.

The acquisition is complemented by a series of strategic financial maneuvers designed to strengthen the company's capital structure. A key component is the successful preferred equity IPO, SATA, which occurred in November 2025.

The SATA offering was met with overwhelming demand. It was initially sized at $125 million but was upsized to $200 million due to receiving more than twice the subscription demand. The company plans to issue additional SATA over the next 12 months to fund debt retirement and maintain amplification exclusively through preferred equity.

To align with institutional investment standards, the board approved a significant corporate action. There will be a 1-for-20 reverse split of both Class A and Class B shares.

Following the closing of the transaction, Eric Semler, Executive Chairman of Semler Scientific, will join the Board of Directors of the combined entity, ensuring continuity and integration of expertise.

Despite the positive strategic news, the market reaction on the day of the announcement showed volatility. Shares of Strive ($ASST) were reported as down over 17% on the day.

However, looking at a broader timeframe provides a different perspective. The stock remains up over 15% on the month, indicating that investors may be digesting the news or reacting to broader market conditions while maintaining longer-term confidence in the company's strategy.

The acquisition of Semler Scientific solidifies Strive's position as a dominant force in the corporate Bitcoin treasury landscape. By combining holdings and executing strategic purchases, the company has built one of the most significant Bitcoin portfolios among public entities.

Key developments to watch include the successful integration of Semler Scientific's operations, the execution of the planned monetization strategy within the next 12 months, and the company's continued use of its preferred equity program (SATA) to fund further Bitcoin acquisitions and debt retirement. This deal sets a new benchmark for Bitcoin-focused corporate strategy.