Core Thesis - Strive Asset Management, LLC is positioned as a pioneering "Bitcoin Treasury Asset Management" firm following a strategic overhaul and reverse merger, aiming to enhance "Bitcoin per share" for investors [2][3] Company Transformation - The transformation involved a reverse merger between Strive Enterprises and Asset Entities Inc., leading to its public listing on Nasdaq under the ticker ASST [2] - Strive's model is similar to MicroStrategy, focusing on accumulating Bitcoin to increase shareholder value [2] Financial Position - Strive completed an all-stock acquisition of Semler Scientific, which holds Bitcoin as its primary treasury reserve, and reported 7,525 Bitcoin valued at over $660 million on its balance sheet [3] - The company raised $160 million through a Series A Perpetual Preferred Stock offering to acquire more Bitcoin without diluting common shareholders [3] Asset Management Business - Strive Asset Management manages over $2 billion across ETFs that emphasize "unapologetic capitalism" and meritocracy, distancing itself from traditional ESG metrics [4] - The stock has experienced significant volatility, trading between $0.36 and over $10 in 2025, currently at $0.86, reflecting a high correlation to Bitcoin prices [4] - Management anticipates the asset management business will reach breakeven or slight profitability by 2026 [4] Future Plans - Strive plans to introduce AI-driven financial products to personalize ETF investment strategies, representing a blend of traditional asset management and cryptocurrency holdings [5] - The company offers speculative investment opportunities with potential upside linked to Bitcoin performance and the adoption of its anti-ESG ETFs [5]

Group 1: Acquisition and Corporate Strategy - Strive, Inc. has successfully completed the acquisition of Semler Scientific, making it the 11 largest public corporate holder of bitcoin globally with approximately 12,797.9 bitcoin [1] - The company aims to monetize the operating business from the Semler Scientific subsidiary by expanding its focus on early disease detection products under the leadership of newly appointed Chief Strategy Officer Avik Roy [2] Group 2: Leadership and Expertise - Avik Roy, who has a background in science from MIT and medical training from Yale, has extensive experience in biotech and healthcare, having worked at Bain Capital and J.P. Morgan [3] - Eric Semler, former chairman of Semler Scientific, has joined Strive as an independent board member, while Joe Burnett, previously director of Bitcoin Strategy for Semler Scientific, has taken on the role of VP of Bitcoin Strategy at Strive [4] Group 3: Company Overview - Strive is the first publicly traded asset management Bitcoin treasury company, focused on increasing Bitcoin per share to outperform Bitcoin over the long run, managing over $2 billion in assets since launching its first ETF in August 2022 [5] - Semler Scientific is recognized as a leader in medical devices and software for chronic diseases, with its flagship product QuantaFlo providing rapid point-of-care testing for peripheral arterial disease [6]

Strive (NASDAQ: ASST) and Semler (NASDAQ: SMLR) shares fell Tuesday after Semler shareholders approved an all-stock merger to consolidate Bitcoin treasuries. Strive stock declined 11.8% and Semler shares dropped 9.6% during the trading session following the announcement. At the time of publication, Strive and Semler shares were up respectively 3.4% and 4.7% after market open on Wednesday. Semler shareholders voted 8,732,675 to 633,524 in favor of the acquisition, with 43,137 abstentions. Approximately 9 ...

Group 1 - Cryptocurrency-related stocks experienced gains, with Strategy (MSTR.US) rising over 9%, Bitmine Immersion Technologies (BMNR.US) up over 7%, Strive (ASST.US) increasing over 4%, and Coinbase (COIN.US) climbing over 2% [1] - Bitcoin reached a two-month high, rising 2.4% to $96,348, marking the highest intraday level since November 16 [1] - Ethereum, the second-largest cryptocurrency, also saw a significant increase, rising over 5% [1] Group 2 - Bitcoin ended 2025 on a low note, with an annual decline of over 6% and a narrow trading range, but showed signs of potential breakout in January [1] - Traders believe Bitcoin may gain an advantage in asset class competition, with investors likely to allocate more funds to Bitcoin based on the logic of "chasing gold trends" as other risk assets perform strongly [1]

Group 1 - Strive, Inc. has received shareholder approval to acquire Semler Scientific in an all-stock transaction [1] - Upon completion of the transaction, Strive will hold a total of 12,797.9 BTC, becoming the 11th largest corporate holder of Bitcoin globally [1] - Strive plans to monetize Semler's medical device business within 12 months post-transaction and repay $100 million in convertible debt and $20 million in Coinbase loans [1]

Core Viewpoint - Strive shareholders approved the acquisition of Semler Scientific, but the announcement of a one-to-20 reverse stock split surprised investors, leading to declines in share prices for both companies [1][3]. Group 1: Acquisition Details - The all-stock transaction will transfer Semler's 5,048 BTC to Strive, resulting in a combined total of nearly 12,798 Bitcoin, positioning the new entity ahead of Tesla and Trump Media & Technology Group in Bitcoin reserves, ranking 11th among corporate holders [2]. - Strive's recent purchase of 123 BTC for $11.3 million at an average price of $91,561 is included in the total Bitcoin holdings [2]. Group 2: Stock Split and Market Reaction - The reverse stock split aims to align Strive's share price with institutional participation standards, as the stock had been trading below $1 for much of the past three months [3]. - Following the announcement, Strive's stock dropped to as low as $0.90 and traded 12% lower, while Semler shares fell nearly 10% [3]. Group 3: Management Perspective - Strive's CEO, Matt Cole, characterized the reverse split as "meaningless from a valuation standpoint," but noted it would facilitate institutional investment in the stock [4]. Group 4: Industry Context - The merger and stock maneuver highlight consolidation pressures in the digital asset treasury sector, as investor enthusiasm has diminished alongside falling stock prices [5]. - Many firms in the sector are trading below the net asset value of their crypto holdings, which restricts their ability to raise capital for expansion [5]. - Mergers and asset roll-ups are becoming essential strategies for scaling operations and enhancing market visibility [5]. Group 5: Financial Strategy - Strive plans to monetize Semler's medical diagnostics business and eliminate approximately $120 million in outstanding debt, which includes a $100 million convertible note and a $20 million loan from Coinbase [6]. - The company intends to maintain a lean corporate structure, focusing on Bitcoin operations and yield generation [6].

Core Viewpoint - Semler Scientific shareholders have approved the acquisition by Strive Inc. in an all-stock transaction, which will position Strive as the 11th largest publicly traded holder of Bitcoin, although investor sentiment appears pessimistic regarding the deal [1][2]. Group 1: Company Details - Strive shares have fallen nearly 13% following the acquisition news, trading at approximately $0.96, while Semler Scientific shares have dropped about 11%, trading just above $20 [2]. - Semler currently holds 5,048.1 BTC in its treasury, and combined with Strive's 7,626 BTC, the total Bitcoin holdings will be valued at $1.1 billion at current prices [2][3]. - Strive recently acquired an additional 123 BTC at an average price of $91,561, which will enhance the combined company's Bitcoin holdings [3]. Group 2: Historical Context - Semler Scientific was previously known for its medical devices aimed at chronic diseases, including the FDA-approved QuantaFlo cardiovascular testing device, and was an early adopter of Bitcoin as a treasury reserve asset [4]. - Strive was founded in 2022 as an "anti-ESG" investment firm, raising $20 million from notable investors, and adopted Bitcoin as a treasury reserve asset in May before announcing the acquisition of Semler in September [5].

Core Viewpoint - Strive, Inc. has successfully acquired Semler Scientific, Inc., marking a significant milestone as the first acquisition of a publicly traded Bitcoin treasury company, which will enhance Strive's Bitcoin holdings and operational strategy [1][4]. Group 1: Acquisition Details - Semler Scientific stockholders approved the acquisition by Strive, which includes the transfer of 5,048.1 Bitcoin [1]. - Strive has also purchased an additional 123 Bitcoin for its corporate treasury at an average price of $91,561 per Bitcoin, totaling $11,264,000, increasing its total Bitcoin holdings to 7,749.8 [2]. - Post-acquisition, the combined entity will hold 12,797.9 Bitcoin, positioning it as the 11th largest corporate holder of Bitcoin, surpassing both Tesla and Trump Media & Technology Group [2]. Group 2: Financial Strategy - Strive plans to monetize Semler Scientific's operating business within 12 months of the transaction close and aims to retire Semler Scientific's $100 million convertible note and $20 million Coinbase loan, depending on market conditions [3]. - The acquisition is expected to boost Strive's Bitcoin yield to over 15% in the first quarter of 2026, continuing its yield generation strategy since the inception of its Bitcoin operations [4]. - Strive intends to issue more preferred equity (SATA) over the next 12 months to support its strategic goals, including retiring legacy debt [4]. Group 3: Corporate Structure and Governance - Strive is recognized as the second company globally to have a publicly traded perpetual preferred equity instrument (SATA) backed by a Bitcoin balance sheet, offering a unique risk profile to fixed income investors [5]. - A 1-20 reverse stock split for Class A and Class B common stock has been approved to align share prices with institutional participation standards [5][6]. - Following the merger, Semler Scientific's Executive Chairman, Eric Semler, will join Strive's Board of Directors [7]. Group 4: Company Background - Strive, Inc. is the first publicly traded asset management Bitcoin treasury company, currently managing over $2 billion in assets and holding 7,749.8 Bitcoin [8]. - Semler Scientific, Inc. is a leader in medical devices and software for chronic diseases and is the second U.S. public company to adopt Bitcoin as its primary treasury reserve asset [10].

Core Viewpoint - A shareholder vote on January 13 will determine if Semler Scientific and Strive proceed with a merger, potentially positioning the combined entity as a significant player in Bitcoin reserves with approximately 13,000 BTC [1][3]. Group 1: Merger Details - The merger, first announced in September 2025, is an all-stock transaction that combines Strive, a Bitcoin treasury vehicle, with Semler, a smaller public company involved in health diagnostics and Bitcoin holdings [2]. - Strive has committed to substantial Bitcoin purchases, which will significantly increase the combined treasury beyond the previously reported 10,900 BTC to an estimated 13,000 BTC post-merger [3]. Group 2: Shareholder Engagement - Eric Semler, the founder of Semler, is actively encouraging shareholders to support the merger, framing the vote as a pivotal moment for the company's transition into a crypto-focused strategic reserve [4]. - Under the merger agreement, Semler stockholders will receive 21.05 shares of Strive ($ASST) for each share of Semler ($SMLR) [3]. Group 3: Market Context - Both companies' stocks are currently under market scrutiny, with Strive's shares fluctuating between approximately $0.85 and $1.08, while Semler's shares are experiencing pressure related to the implied acquisition value [5].

Market Overview - U.S. stocks experienced an upward trend, with the Dow Jones index increasing by over 500 points on Monday [1] Company Highlights - Altimmune Inc (NASDAQ:ALT) saw a significant increase of 23.6%, reaching $4.34, following the FDA's grant of Breakthrough Therapy Designation for Pemvidutide in MASH [1] - GH Research PLC (NASDAQ:GHRS) surged by 33.8% to $17.72 after the FDA lifted the clinical hold on its Investigational New Drug Application for GH001 [2] - Vicor Corp (NASDAQ:VICR) rose by 20.7% to $141.08 [2] - Critical Metals Corp (NASDAQ:CRML) increased by 19.6% to $9.71 [2] - Kosmos Energy Ltd (NYSE:KOS) gained 19.3% to $1.06 after issuing an operational and financial update [2] - TRON Inc (NASDAQ:TRON) increased by 16.9% to $1.59 [2] - Nuscale Power Corp (NYSE:SMR) rose by 15.7% to $18.88 [2] - Regencell Bioscience Holdings Ltd (NASDAQ:RGC) increased by 15.4% to $23.71 [2] - Rayonier Advanced Materials Inc (NYSE:RYAM) gained 14.1% to $6.68, with the appointment of Scott M. Sutton as President and CEO [2] - Aduro Clean Technologies Inc (NASDAQ:ADUR) rose by 14% to $12.05 [2] - Gyre Therapeutics Inc (NASDAQ:GYRE) increased by 12.7% to $7.67, announcing alignment with China's CDE on conditional approval pathway for hydronidone [2] - Endeavour Silver Corp (NYSE:EXK) gained 12.5% to $10.16 [2] - Allegro MicroSystems Inc (NASDAQ:ALGM) surged by 11.9% to $30.12 [2] - United States Antimony Corp (NYSE:UAMY) rose by 11.7% to $6.69 [2] - Oklo Inc (NYSE:OKLO) gained 11.5% to $86.82 [2] - Figure Technology Solutions Inc (NASDAQ:FIGR) increased by 11.3% to $48.66 [2] - Valero Energy Corp (NYSE:VLO) rose by 9.6% to $181.21 [2] - AeroVironment, Inc. (NASDAQ:AVAV) increased by 8.6% to $278.31 [2] - Coeur Mining Inc (NYSE:CDE) gained 8.5% to $19.05 [2] - Halliburton Co (NYSE:HAL) rose by 7.8% to $31.92, with U.S. energy stocks trading higher amid news of potential investments in Venezuela's oil industry [2] - Kratos Defense & Security Solutions Inc (NASDAQ:KTOS) gained 7.7% to $85.39 [2] - Slb NV (NYSE:SLB) increased by 7.4% to $43.19 [2] - Amkor Technology Inc (NASDAQ:AMKR) rose by 7.3% to $46.05, with Needham analyst Charles Shi maintaining a Buy rating and raising the price target from $37 to $50 [2]