Strive Built a 13,628-Bitcoin Treasury in Six Months After Listing Despite a $393.6 Million Loss
Strive, Inc., the corporate treasury company founded by Vivek Ramaswamy, said it had accumulated 13,628 BTC as of March 17, 2026, putting it among the world’s top 10 corporate bitcoin holders. The buildout happened in roughly six months after the firm’s September 2025 public listing, even as it reported a GAAP net loss of $393.6 million for the period ended December 31, 2025. A large part of that deficit came from non-cash accounting items, including $194.5 million in unrealized losses on bitcoin and $140.8 million in goodwill and intangible asset impairment tied to the Semler Scientific acquisition. Strive said its bitcoin stack was assembled through several channels: 5,886 BTC from private investment proceeds and stock exchange activity, about 5,048 BTC from acquiring Semler Scientific, and another 2,694 BTC through capital markets activity such as SATA preferred stock offerings, follow-on deals, and at-the-market issuance. Management also promoted a proprietary “Bitcoin Yield” metric, reporting 22.2% in Q4 2025 and 13.8% quarter-to-date through mid-March 2026, equivalent to bitcoin gains of 1,305 and 1,050 coins. At the same time, Strive used structured finance tools to raise capital, retire a $20 million Coinbase Credit loan, exchange preferred shares for $90 million of Semler convertible debt, and continue developing Clinivanta, its wholly owned preventive healthcare subsidiary led by former Teleflex executive Michelle Fox.
