Strive, the bitcoin-focused company backed by former U.S. presidential candidate Vivek Ramaswamy, announced on Monday its acquisition of Semler Scientific in an all-stock transaction valued at approximately $1.34 billion. The move signals Strive’s continued push to expand its cryptocurrency holdings.
Under the terms of the deal, Semler shareholders will receive 21.04 Class A shares of Strive for each Semler share, representing a premium of over 210% compared to Semler’s previous closing price.
This agreement follows Strive’s recent merger with Asset Entities as part of its strategy to list on Nasdaq and strengthen its bitcoin treasury. The company also revealed plans to purchase an additional 5,816 bitcoin for $675 million, bringing the combined bitcoin holdings of the new entity to over 10,900 BTC. Strive intends to fund future purchases using a preferred equity-only model.
Semler Scientific, besides holding bitcoin, operates a healthcare division that provides point-of-care testing for arterial blood flow in extremities.
Ramaswamy, a well-known advocate for cryptocurrency, co-founded Strive in 2022. He previously founded Roivant Sciences and left its board in 2023 to focus on his presidential campaign.
This acquisition mirrors the growing trend of corporate bitcoin adoption, similar to strategies popularized by companies like MicroStrategy, which started purchasing bitcoin in 2020. Bitcoin has surged 20.5% this year, outperforming the S&P 500’s 13.3% gain, aided by favorable regulatory developments that are bridging the gap between crypto and traditional finance.
Advisors: Cantor Fitzgerald acted as financial advisor to Strive, while LionTree Advisors represented Semler Scientific.
