As Semler Scientific shareholders approved Strive's previous stock acquisition proposal, both companies described it as the first merger between publicly listed Bitcoin (BTC) financial firms.
After the merger, the combined entity will hold approximately 12,797.9 bitcoins, valued at around $1.2 billion based on current market prices.
Strive separately announced that it had purchased an additional 123 bitcoins for its corporate treasury, with an average purchase price of $91,561 per coin. This brings Strive's pre-merger holdings to 7,749.8 bitcoins.
Upon completion of the transaction, the combined company's Bitcoin holdings are expected to surpass those of Tesla and Trump Media & Technology Group, making it the world's approximately 11th largest corporate Bitcoin holder.
What happened?
As part of this acquisition, all 5,048.1 Bitcoins held by Semler Scientific will be transferred to Strive via a stock exchange.
Strive Chairman Matt Cole stated that this transaction would result in a Bitcoin return of over 15% in the first quarter of 2026.
Strive, a asset management firm, publicly announced plans to monetize Semler Scientific's healthcare diagnostics business within 12 months after the transaction closes.
Strive plans to explore opportunities to redeem or prepay its $100 million convertible notes from Semler Scientific and a $20 million Coinbase loan, depending on market conditions.
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Why is it important?
This merger represents a move to consolidate two Bitcoin financial strategies at a time when corporate adoption of digital assets is expanding despite market volatility.
Strive raised $200 million through its November 2025 preferred share offering, expanding the issue size after subscription demand exceeded twice the target of $125 million.
The company plans to significantly increase issuance of its SATA perpetual preferred stock over the next 12 months.
Strive's board approved a 1:20 reverse stock split for Class A and Class B common shares to align with institutional investor standards.
Eric Semler, Executive Chairman of Semler Scientific, will join Strive's board following the completion of the transaction.
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