Strive, Semler Stocks Fall After Shareholders Approve Bitcoin Treasury Acquisition
Semler Scientific shareholders, the health technology company Strive Inc. Approved the acquisition by the company in an all-stock transaction. announced last September.
Once the deal closes, Strive will become the 11th largest publicly traded stockholder. bitcoin. However, investors do not seem very optimistic about this news.
Strive shares, which trade as ASST on Nasdaq, fell nearly 13% following the news. The stock recently changed hands for $0.96. Meanwhile, Semler Scientific, which trades on Nasdaq under the ticker symbol SMLR, is down nearly 11% on the day and has recently been trading at just over $20 per share.
Semler currently has 5,048.1 BTC in its corporate treasury. When combined with Strive’s 7,626 BTC, this leaves the firm with a Bitcoin stash worth $1.1 billion at current prices.
In the same press release, Strive added that it recently purchased 123 additional BTC at an average price of $91,561.
When the ink dries, the combined company will have a larger Bitcoin store than Trump Media & Technology Group and Twitter founder Jack Dorsey’s Block, Inc.
Bitcoin treasury tracking site Bitcoin Treasuries ranks Strive merging with Semler’s BTC holdings at #11, but the deal has not yet been officially finalized.
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Before becoming a Bitcoin treasury company, Semler was known for its medical devices to combat chronic diseases, such as its flagship FDA-approved QuantaFlo cardiovascular testing device. The company was an early adopter of Bitcoin and only the second US public company. Considering BTC as the primary treasury reserve asset Following the industry leader Strategy He did it for the first time in 2020.
Strive was founded in 2022 by Vivek Ramaswamy and Anson Fredericks with the aim of becoming an “anti-ESG” investment company. It raised $20 million from investors including PayPal and Palantir co-founder Peter Thiel, Vice Chairman J.D. Vance and billionaire hedge fund manager Bill Ackman.
make an effort adopted Bitcoin was used as a treasury reserve asset while merging with Wealth Assets last May. Just a few months later, in September, Strive announced its plans To buy Semler.
