Semler Scientific Acquisition by Strive Inc.
Shareholders of Semler Scientific have given the green light for the acquisition of their company by Strive Inc. through an all-stock deal first revealed last September. This significant transaction, once finalized, will position Strive as the 11th largest publicly held entity in terms of Bitcoin ownership.
Market Reactions
Despite the potential growth ahead, market reactions have been lukewarm, with Strive’s shares, traded under the ticker ASST on the Nasdaq, experiencing a marked decline of nearly 13%, bringing its share price down to about $0.96. Meanwhile, Semler’s stock, listed as SMLR, has also seen a drop of approximately 11%, currently hovering just above $20.
Bitcoin Holdings
Semler Scientific currently holds 5,048.1 BTC in its treasury, and when accounted together with Strive’s existing 7,626 BTC, the newly formed entity will possess a Bitcoin reserve valued at $1.1 billion based on the current market rates. In the latest press release, Strive revealed its recent acquisition of an additional 123 BTC at an average price of $91,561.
Once the acquisition is finalized, the combined cryptocurrency assets will surpass those held by notable firms such as Trump Media & Technology Group and Block, Inc., which is associated with Twitter founder Jack Dorsey. Although Bitcoin Treasuries has not yet updated its listings to reflect the completed acquisition, it has provisionally placed Strive in the 11th ranking, taking into consideration the total Bitcoin holdings from both companies.
Company Backgrounds
Historically, Semler Scientific has been recognized more for its healthcare innovations, including its flagship QuantaFlo product designed for cardiovascular testing, which has received FDA approval. The company began integrating Bitcoin into its treasury strategy early, becoming the second U.S. public firm to classify Bitcoin as a primary reserve asset in 2020, following the lead of Strategy.
On the other hand, Strive was established in 2022 by Vivek Ramaswamy and Anson Fredericks, advocating for an “anti-ESG” investment philosophy. They secured $20 million in funding from high-profile investors like PayPal and Palantir co-founder Peter Thiel, hedge fund manager Bill Ackman, and Vice President JD Vance. After declaring Bitcoin as part of its treasury strategy last May, Strive moved forward to merge with Asset Entities and announced its plans to acquire Semler shortly after in September.
