Strive's Merger Cements Bitcoin as Corporate Treasury Standard

Strive, Inc.^[1] Strive, Inc. (Nasdaq: ASST) has finalized a landmark merger with Semler Scientific, Inc. (Nasdaq: SMLR), creating the fastest-growing corporate Bitcoin treasury entity in the United States. The all-stock transaction, approved by both boards, sees Strive acquiring Semler Scientific at a 210% premium, or $90.52 per share, with each Semler share exchanged for 21.05 shares of Strive Class A stock. The combined entity will hold over 10,900 Bitcoin, including 5,816 newly acquired BTC purchased for $675 million at an average price of $116,047 per coin, elevating Strive’s total holdings to 5,886 BTC Strive, Inc.^[1].

Fortune^[2] The merger accelerates the corporate Bitcoin treasury model pioneered by Michael Saylor’s Strategy Inc. (formerly MicroStrategy), which Semler Scientific adopted as its primary reserve asset in 2024. Strive’s CEO, Matt Cole, emphasized the strategic alignment, stating the combined company will leverage a “preferred equity only” leverage structure to avoid debt risks and outperform Bitcoin over the long term. The transaction also includes Semler Scientific’s diagnostics business, which develops FDA-cleared tools for chronic disease detection, with plans to monetize or distribute this division in the future Fortune^[2].

Coindesk^[3] The deal underscores a broader trend of institutional Bitcoin adoption, with public companies now holding over 1 million BTC globally. Semler Scientific’s shares have declined 46% year-to-date, reflecting market challenges for Bitcoin treasuries. However, the merger’s timing follows Strive’s recent acquisition of Asset Entities Inc., highlighting the firm’s aggressive strategy to build a “Bitcoin war chest.” Post-merger, Strive’s Bitcoin per share is expected to grow rapidly, driven by its capital structure and acquisition pace Coindesk^[3].

Thecryptobasic.com^[4] Analysts note that corporate Bitcoin holdings have surged 580% since 2020, with firms viewing BTC as an inflation hedge and a tool for brand differentiation. Semler Scientific’s prior goal of accumulating 105,000 BTC by 2027 aligns with this trend, though recent market volatility has tempered institutional buying. The combined entity’s $118 billion in Bitcoin holdings—representing 5.26% of total circulating supply—positions it as a key player in shaping Bitcoin’s institutional trajectory Thecryptobasic.com^[4].

Cryptonews.com^[5] The merger’s success hinges on regulatory clarity and market stability. While Strive and Semler Scientific remain optimistic about their dual focus on Bitcoin accumulation and healthcare innovation, macroeconomic headwinds, including interest rates and regulatory scrutiny, could impact execution. The transaction is subject to customary closing conditions, with legal counsel from Davis Polk & Wardwell LLP and Cantor Fitzgerald advising on the deal. Strive’s expanded Bitcoin reserves and diagnostics portfolio aim to balance financial returns with mission-driven growth Cryptonews.com^[5].