Key Highlights
- Strive shareholders approved an all-stock acquisition of Semler Scientific, adding over 5,000 BTC.
- The company purchased 123 BTC last week, lifting its standalone holdings to 7,749.8 BTC.
- Post-merger, Strive will control nearly 12,800 BTC, ranking among the largest corporate holders globally.
Strive, Inc. (ASST) has secured shareholder approval to acquire Semler Scientific (SMLR), pushing the firm further into the race among corporate Bitcoin treasuries. The all-stock transaction, approved on January 13, will transfer Semler’s 5,048.1 Bitcoin to Strive once the deal closes.
Alongside the acquisition, Strive disclosed the purchase of an additional 123 Bitcoin for its corporate treasury, reinforcing its strategy of building scale through direct accumulation rather than balance-sheet hedging.
Bitcoin balance swells post-acquisition
Ahead of the merger’s completion, Strive holds 7,749.8 Bitcoin following its latest purchase at an average price of $91,561 per coin. Once Semler’s reserves are folded in, the combined entity will control 12,797.9 Bitcoin.
That total would place Strive ahead of several high-profile public companies, making it the world’s 11th-largest corporate Bitcoin holder, according to BitcoinTreasuries.
The milestone underscores how quickly Bitcoin-focused balance sheets are reshaping public company rankings.
Strategy shifts away from operating assets
Management signaled that Semler’s healthcare business is not central to Strive’s long-term plans. Within 12 months of closing, the company intends to monetize the operating unit and focus capital on Bitcoin-related strategies, including retiring Semler’s $100 million convertible note and a $20 million Coinbase-backed loan, subject to market conditions.
Chief Executive Matt Cole framed the move as an extension of Strive’s preferred-equity-first model, designed to amplify Bitcoin exposure without layering on traditional debt risk.
“The Semler Scientific deal will continue Strive’s leading yield generation since inception of our Bitcoin strategy, boosting our 2026 1st quarter Bitcoin yield to over 15%, and is a win for both Strive and Semler Scientific shareholders. We are showing the market how to execute with Bitcoin as your hurdle rate,” Cole said.
Preferred equity at the core
Talks between Strive, Inc. and Semler Scientific began in mid-2025, as both companies explored an all-stock merger built around their growing Bitcoin treasuries. Those early discussions laid the groundwork for combining two of the first public firms to anchor their balance sheets directly to BTC.
Strive’s approach leans heavily on its perpetual preferred equity instrument, SATA, which the company says allows investors to track balance-sheet risk in real time through a transparent Bitcoin reserve. The firm plans to issue additional SATA over the coming year to support debt retirement and further BTC accumulation.
The structure has already drawn institutional interest, with Strive’s November 2025 preferred equity IPO more than twice oversubscribed.
Corporate Bitcoin race intensifies
The deal highlights how Bitcoin treasuries are no longer confined to software firms or early adopters. Medical technology companies, asset managers, and newly structured public vehicles are now competing on the same metric: Bitcoin per share.
With shareholder approval secured and the merger nearing completion, Strive is positioning itself not just as a holder of Bitcoin but as a company built around it.
Also read: Strive Launches $500M Stock Sale Program to Boost Bitcoin Strategy
