Strive Inc., a Bitcoin-focused asset management company backed by former US presidential candidate Vivek Ramaswamy, has announced that it will acquire Semler Scientific in all-stock transactions worth around $1.3 billion, one of the largest combinations of corporate Bitcoin holders.
The deal rated Semler at $90.52 per share, a premium of 210% from its final closing price before the announcement. Each Semler share will be exchanged for 21.05 Strive Class A shares. The transaction is approved by the boards of both companies and is subject to customary closure conditions.
At the same time, Strive announced a massive new Bitcoin purchase of 5,816 BTC at $675 million at $116,047 per coin. Before I bought it, I had 69 BTC.
Adding these new holdings to the approximately 5,000 BTC held by Semler will bring the company’s Bitcoin Treasury Ministry to over 10,900 Bitcoin, making it one of the largest Bitcoin holders in the world.
The Prime Minister says the merger has put the company at the top of the Bitcoin Finance Company’s growth list. It would be number 12th among the largest Bitcoin holdings, ahead of Hat8.
“This merger continues its efforts as a top company in the Bitcoin Treasury.” said Matt Cole, chairman and CEO of Strive. “We believe our strategy and capital structure for alpha is better than Bitcoin in the long run.”
Semler Executive Chairman Eric Semler has joined the integrated company’s board of directors, and the Strive management team is still in place.
Semler Scientific is the health technology company best known for its Quantaflo test, an FDA clearing device that diagnoses peripheral arterial disease. However, in 2024, Semler shifted its focus to Bitcoin.
The medical diagnostics business was profitable, but the company’s stock was under pressure. The stock was below Bitcoin Holdings’ value, effectively allocating negative value to the healthcare business.
“This transaction illustrates how Bitcoin Holdings and Bitcoin can expand at an unparalleled pace in the industry. Cole said.
Semler’s diagnostics business will not go away overnight. There are business review options, such as monetization, distribution, or expanding to a broader preventive care platform.
The Strive-Semler trading is part of the integration of Bitcoin Treasury Companies, part of a broader trend in the market. Bitcoin volatility narrows the balance sheet, so small or weak players often trade at a discount on the value of their digital assets. This will help them achieve their acquisition goals.
Industry insiders have been predicting this for a while.
For those who have put in effort, the acquisition of Semler is the second transaction in a busy year. The company said it was made public through a reverse merger with asset entities in early 2025 and will subsequently grow aggressively through its Bitcoin acquisition.
Last week, Strive also signed a small cash agreement to buy MSTR True North Inc.