Strive Buys Bitcoin Hoarder Semler as Treasury Wave Shows Cracks

Core Insights - Strive Inc. has agreed to acquire Semler Scientific Inc. in an all-stock deal, valuing Semler at $90.52 per share, which represents a 210% premium over its previous closing price of $29.18, indicating a significant consolidation trend among Bitcoin accumulators [1] - The combined entity will hold nearly 11,000 Bitcoin, marking a notable development in the cryptocurrency treasury space [1][2] - This acquisition follows Strive's recent transformation into a Bitcoin proxy, highlighting a rapid execution in the Bitcoin treasury model [2][3] Company Developments - Strive's merger with Semler occurs just one week after it became a public company, showcasing a swift operational pace in the Bitcoin treasury sector [3] - Strive plans to monetize or separate Semler's diagnostics unit in the future, aiming to build a robust Bitcoin "war chest" [5] - The company, which went public through a reverse merger, has previously been recognized for its asset management business, including the $1 billion Strive 500 ETF focused on large US stocks [5] Market Reactions - Following the announcement, Strive's shares fell by as much as 8.1% in early trading, while Semler's stock initially rose by 24% before retracting most of its gains [4] Industry Context - The rise of digital-asset treasury companies has been noted globally, particularly as cryptocurrency prices have surged, with Strive's acquisition being one of the first among publicly traded crypto hoarders [2] - Semler Scientific was one of the early adopters of Bitcoin as a primary treasury reserve asset, indicating a strategic shift in how companies manage excess cash [7]