In a landmark move that reshapes corporate Bitcoin strategy, U.S. asset manager Strive, Inc. has successfully completed the acquisition of Nasdaq-listed medical technology firm Semler Scientific in an all-stock deal valued at approximately $1.1 billion. The transaction, which received overwhelming shareholder approval in Q2 2025, is a strategic maneuver to gain direct exposure to digital assets.
The acquisition adds 5,048.1 Bitcoin from Semler's treasury to Strive's holdings, propelling the asset manager's total Bitcoin reserve from 7,750 BTC to a formidable 12,797.9 BTC. This positions Strive as the 11th largest corporate Bitcoin holder globally, surpassing Tesla's corporate holdings and placing it among elite companies like MicroStrategy, Block, Inc., and Coinbase.
Strive, co-founded by Vivek Ramaswamy, structured the deal to avoid the market impact of a direct, open-market purchase of over 5,000 BTC. The acquisition includes Semler's entire medical technology business, providing portfolio diversification alongside the digital asset exposure. The transaction involved a 210% premium on Semler's last closing share price and requires Strive to redeem $100 million in convertible notes and a $20 million loan.
Matt Cole, Chairman and CEO of Strive, stated, "I'm proud of the execution the Strive team has delivered for our shareholders, making history towards completing the first acquisition of a publicly traded Bitcoin treasury company." Industry analysts view this as a mature evolution in corporate finance, where mergers and acquisitions serve as a vehicle for balance sheet diversification.
The deal underscores an accelerating trend of traditional finance entities leveraging strategic mergers to accumulate Bitcoin. It permanently removes a significant chunk of Bitcoin from the liquid supply, aligning with the growing "HODL" mentality adopted by major corporations. Market participants interpreted the acquisition as a strong signal of institutional conviction, contributing to Bitcoin's price stabilization above key support levels.
This acquisition sets a powerful precedent for the asset management industry, providing a blueprint for other traditional finance entities to build substantive Bitcoin positions through corporate actions rather than just financial instruments like ETFs. It occurs amidst clearer regulatory guidance for public companies holding digital assets, established throughout 2024, which gave Strive's board and shareholders the confidence to proceed.
