Strive, Semler Stocks Fall After Shareholders Approve Bitcoin Treasury Acquisition
Semler Scientific shareholders approved an all-stock acquisition by Strive Inc., a deal that will make Strive the 11th largest publicly traded holder of Bitcoin once completed. Combined, the two companies hold over 12,600 BTC, valued at approximately $1.1 billion at current prices. Despite the large Bitcoin treasury, shares of both Strive (ASST) and Semler Scientific (SMLR) fell sharply following the news, dropping nearly 13% and 11% respectively. Strive recently acquired an additional 123 BTC at an average price of $91,561. The combined Bitcoin holding will surpass those of Trump Media & Technology Group and Block, Inc. Previously, Semler focused on medical devices and was an early adopter of Bitcoin as a reserve asset, while Strive, founded in 2022 as an "anti-ESG" firm, began using Bitcoin as a treasury reserve in May 2023. Major investors in Strive include Peter Thiel, JD Vance, and Bill Ackman. The acquisition is pending formal closure.
