Strive Inc., the Bitcoin-focused asset manager founded by former presidential candidate Vivek Ramaswamy, has announced a landmark deal to acquire Semler Scientific. The merger, combined with Strive’s $675 million Bitcoin purchase, positions the new entity as one of the largest public corporate Bitcoin holders globally.
Deal Details: 210% Premium for Semler Shareholders
In its Monday announcement, Strive said the all-stock transaction will swap each Semler share for 21.05 Strive Class A shares — a 210% premium over Semler’s previous market price. The move underscores Strive’s aggressive pivot toward becoming a major Bitcoin treasury company.
$675 Million Bitcoin Buy Boosts Holdings
Alongside the merger, Strive revealed it had purchased 5,816 BTC for approximately $675 million, raising its total Bitcoin holdings to 5,886 BTC. With Semler’s holdings added, the combined company now controls more than 10,900 BTC — making it the 12th-largest public holder, surpassing Hut 8 Mining, Block Inc. and Galaxy Digital.
Market Implications: Industry Consolidation Ahead?
The Strive–Semler merger may signal an emerging wave of consolidation among Bitcoin treasury firms. Analysts at Standard Chartered note that compressed market net asset values (mNAVs) could encourage acquisitions as larger players buy out smaller competitors to strengthen their positions.
HashKey Capital CEO Deng Chao warned that only companies with a long-term strategy will survive volatility, emphasizing that sound treasury management is key to lasting success.
