Strive Inc. and Semler Scientific Join Forces to Form Bitcoin Treasury Powerhouse
In a significant move within the finance and health tech sectors, Strive Inc. has officially merged with Semler Scientific. This strategic alliance has resulted in the formation of a new Bitcoin (BTC) treasury entity boasting a substantial holding of over 10,000 BTC.
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Strategic Merger: Expanding Bitcoin Holdings
Earlier today, Strive Inc., spearheaded by entrepreneur Vivek Ramaswamy, announced its merger with Semler Scientific through an all-stock transaction. This merger not only signifies a union of strengths but also a notable increase in Bitcoin holdings. Strive Inc. has recently acquired 5,816 BTC at an aggregate cost of $675 million, which equates to approximately $116,047 per Bitcoin. This acquisition has significantly bolstered Strive’s BTC reserves, now totaling 5,886 BTC.
The merger agreement with Semler Scientific translates to a remarkable 210% premium, estimated at around $90.52 per share, based on the trading prices of both companies as of September 19. Under this agreement, each share of Semler Scientific will be exchanged for 21.05 shares of Strive’s Class A stock. Moreover, in a bid to mitigate debt-maturity risk, Strive has opted for a “preferred equity-only” model, aiming to enhance BTC per share growth rate, outpacing spot BTC price fluctuations.
New Entity’s Bitcoin Holdings and Market Position
The newly formed company now holds over 10,900 BTC within its treasury. While this marks Strive’s first major BTC acquisition preceding the merger, Semler Scientific has already established a reputation as a Bitcoin treasury strategist. According to data from Coingecko, Semler ranked as the 18th largest BTC-holding public company. However, with the merger, the new entity could ascend to the 13th position, trailing behind industry giants like Coinbase and Tesla.
Endorsements for the merger have been secured from both companies’ boards. Matt Cole, Chairman and CEO of Strive, commented, “This merger solidifies Strive’s standing as a premier Bitcoin treasury company. Our alpha-seeking strategies and capital structure empower us to outperform Bitcoin in the long term. This transaction exemplifies our ability to amplify Bitcoin holdings and Bitcoin per share at an unrivaled pace, enhancing equity value.”
Growing Corporate Adoption of Bitcoin
Despite Bitcoin’s recent stable pricing, its corporate adoption shows no signs of slowing. Notably, Japanese investment firm Metaplanet recently acquired an additional 136 BTC, while Strategy has augmented its reserves by 535 BTC, reinforcing its position as a leading corporate Bitcoin holder. Similarly, Robin Energy from Cyprus has committed $5 million to its Bitcoin treasury strategy.
In a recent development, Wall Street veteran Jordi Visser suggested that US financial institutions might increase their BTC allocations by the year’s end. As of the latest update, Bitcoin is trading at $112,801, reflecting a 2.2% decrease over the past 24 hours.
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