Strive shares slide after Semler deal expands Bitcoin treasury

Strive’s shares fell about 12% after the asset manager announced an all-stock deal to acquire Semler Scientific and boost its Bitcoin treasury.

The transaction will add Semler’s 5,048.1 Bitcoin to Strive’s existing holdings, lifting total reserves to 12,797.9 BTC.

Strive said it has secured shareholder approval for the acquisition, which would rank it as the 11th largest public Bitcoin holder.

The company also disclosed the purchase of an additional 123 Bitcoin, taking its standalone treasury to 7,749.8 BTC.

As part of the deal, Strive plans to monetise Semler’s operating business and work to retire existing liabilities.

These obligations include a $100m convertible note and a $20m loan from Coinbase, subject to market conditions.

The merger includes a one-for-20 reverse stock split covering both Class A and Class B shares.

Strive’s shares have been volatile since announcing its Bitcoin treasury strategy, after surging more than 2,000% before retreating sharply.

Semler Scientific’s shares previously followed a similar pattern after adopting Bitcoin as its primary treasury reserve asset.

Analysts say companies holding digital assets on their balance sheets often experience sharp stock swings after initial investor enthusiasm fades.

At the time of reporting, Bitcoin price was $95,176.34.