Strive Inc. (Nasdaq: ASST) cleared a critical hurdle on Jan. 13 after Semler Scientific Inc. (Nasdaq: SMLR) shareholders approved an all-stock acquisition that will vault Strive into the top tier of corporate bitcoin holders. The combined entity will hold 12,797.9 bitcoin, surpassing both Tesla and Trump Media & Technology Group to become the 11th largest corporate bitcoin holder.
Deal Details and Numbers
Under the all-stock transaction, Strive will acquire Semler Scientific's 5,048.1 bitcoin. Ahead of closing, Strive separately purchased 123 bitcoin at an average price of $91,561, totaling roughly $11.3 million including fees, bringing its standalone holdings to 7,749.8 BTC. post-closing combined holdings stand at nearly 12,800 BTC.
Stock Market Reaction
Both stocks saw heavy trading and sharp declines. Strive shares closed Jan. 13 at $0.97, down 11.82%, after trading between $0.89 and $1.17 with volume exceeding 360 million shares (average ~117 million). Semler Scientific fell 9.64% to $20.34, ranging from $18.81 to $24.19. Pre-market showed modest stabilization, with Semler up 0.20% and Strive down 1.00%, market caps near $311 million and $867 million respectively.
CEO on Capital Strategy
Strive CEO Cole explained: "The Semler deal will continue Strive's leading yield generation since inception of our bitcoin strategy, boosting our Q1 2026 bitcoin yield to over 15%, and is a win for both sets of shareholders. We are showing the market how to execute with bitcoin as your hurdle rate."
Within 12 months of closing, Strive plans to monetize Semler's operating business and retire legacy obligations, including a $100 million convertible note and a $20 million Coinbase loan, subject to market conditions. The board approved a 1-for-20 reverse stock split of Class A and Class B common stock to align with institutional participation standards. Post-closing, Semler Executive Chairman Eric Semler will join Strive's board. Cantor Fitzgerald and Liontree Advisors served as financial advisers.