Strive Completes Semler Acquisition, Expands Bitcoin Holdings to 12,798 BTC

Strive Inc. (Nasdaq: ASST) announced Jan. 16 that it has completed the acquisition of Semler Scientific Inc. (Nasdaq: SMLR), significantly expanding its corporate Bitcoin holdings. The deal adds 5,048.1 BTC to Strive's existing treasury, lifting its total holdings to 12,797.9 BTC. This positions Strive as the 11th largest public corporate holder of Bitcoin.

The transaction, approved by Semler Scientific shareholders on Jan. 13, is an all-stock deal that will integrate Semler's Bitcoin reserves directly into Strive's balance sheet. Strive also announced the recent purchase of 123 additional BTC, further strengthening its position.

Strive's acquisition is part of a broader trend in which public companies are increasingly adopting Bitcoin as a treasury asset. The company plans to monetize Semler's healthcare operations within 12 months and work toward retiring Semler's $100 million convertible note and $20 million Coinbase loan according to company reports.

Why Did This Happen?

Strive's decision to acquire Semler Scientific is driven by its strategic focus on Bitcoin accumulation and long-term capital growth. The all-stock transaction allows Strive to expand its Bitcoin holdings without diluting existing equity in a traditional sense.

The acquisition also aligns with Strive's vision of becoming the first publicly traded asset management company focused solely on increasing Bitcoin per share. The deal adds Semler's medical technology capabilities, including the FDA-cleared QuantaFlo product, to Strive's portfolio.

The board of directors has approved a 1-for-20 reverse stock split to align the company's share price with institutional participation standards, further signaling its commitment to institutional credibility.

How Did Markets React?

Following the announcement, Strive's shares fell approximately 12% on Jan. 13, closing at $0.97. Semler's shares also dropped, falling 9.64% to $20.34. The market reaction reflects mixed sentiment, with some investors seeing the deal as a strategic move and others viewing it as a potential overextension.

Strive's ability to generate yield from its Bitcoin holdings is also a key focus. The company claims it has already achieved a 15% yield in the first quarter of 2026, a figure that could influence investor sentiment and valuation multiples.

Market observers are also watching the broader trend of Bitcoin treasury adoption in public companies. According to on-chain analytics, corporate Bitcoin holdings have grown significantly, outpacing mining supply and highlighting the asset's role in balance-sheet diversification.

As more companies follow the lead of Strive and Semler, the competitive landscape for Bitcoin treasury plays is likely to intensify. This could drive further consolidation, with larger players acquiring smaller firms to expand their holdings and operational capabilities.