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bitcoin

Strive And Semler Scientific Merge To Form Bitcoin Treasury Vehicle With 10,900 BTC

Ash Tiwari
by Ash Tiwari
3 hours ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Asset management firm Strive Inc. today announced a merger with health tech firm Semler Scientific to create a new Bitcoin (BTC) treasury company that will hold more than 10,000 BTC on its balance sheet.

Strive Merges With Semler Scientific, Expands Bitcoin Holdings

According to an announcement earlier today, US politician and entrepreneur Vivek Ramaswamy’s Strive Inc. has inked a merger deal with Semler Scientific in an all-stock transaction.

Related Reading: Bitcoin Investors Are Back In The Market—Why A Momentum-Driven Rally May Be Near

In addition, Strive announced the acquisition of 5,816 BTC – purchased for a total of $675 million – at $116,047 per coin. Today’s purchase has increased Strive’s total BTC holdings significantly, pushing them to 5,886 BTC.

The merger deal with Semler Scientific represents an approximately 210% premium, equivalent to roughly $90.52 per share. These estimates are based on the trading price of Semler Scientific common stock and Strive Class A common stock as of September 19.

Essentially, each common share of Semler Scientific will be swapped for 21.05 Class A shares of Strive. Notably, Strive aimed to avoid debt-maturity risk, and subsequently pitched a “preferred equity-only” model. The company added that it aims to grow BTC per share faster than the spot BTC price.

Notably, the newly created company will hold more than 10,900 BTC on its balance sheet. While Strive made its first major BTC purchase just before the merger, Semler Scientific has been a fairly established name when it comes to companies that have adopted a Bitcoin treasury strategy.

According to data from Coingecko, Semler Scientific ranked 18th on the list of public companies that hold BTC on their balance sheets. However, following today’s announcement, the new firm could rank 13th in the updated list, behind the likes of Coinbase and Tesla.

cg
Source: Coingecko

The merger between Strive Inc., and Semler Scientific has already been approved by the boards of directors of both firms. Commenting on the development, Matt Cole, Chairman and CEO, Strive, said:

This merger cements Strive’s position as a top Bitcoin treasury company, and we believe our alpha-seeking strategies and capital structure position us to outperform Bitcoin over the long run. This transaction showcases how we can grow Bitcoin holdings and Bitcoin per share at an unmatched pace in the industry to drive equity value accretion.

BTC Corporate Adoption Continues To Grow

Despite BTC’s recent stagnant price action, corporate adoption of the flagship cryptocurrency continues to grow at a rapid pace. For example, Japanese investment firm Metaplanet recently announced the purchase of another 136 BTC.

Related Reading: Metaplanet Sets Up US Subsidiary To Strengthen Bitcoin Income Business

Similarly, Strategy added another 535 BTC to its reserves earlier this week, extending its lead as the top corporate holder of the digital asset. In the same vein, Cyprus-based Robin Energy allocated $5 million to its Bitcoin treasury strategy.

Most recently, Wall Street veteran Jordi Visser stated that the US financial firms are likely to raise their BTC allocations before the end of the year. At press time, BTC trades at 112,801, down 2.2% in the past 24 hours.

bitcoin
Bitcoin trades at $112,801 on the daily chart | Source: BTCUSDT on TradingView.com
Featured image from Unsplash.com, charts from Coingecko and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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