Despite BTC’s apparent stagnation in recent weeks, the Bitcoin Treasuries sector continues to grow in what can be described as a challenging environment. This has not prevented Strive from announcing the acquisition of Semler Scientific and its holdings of 5,048 BTC.
Bitcoin Treasuries: Strive Acquires Semler Scientific
In the space of just one year, the number of publicly traded companies that have embarked on a crypto transformation—specifically, becoming Digital Asset Treasuries (DAT)—has simply skyrocketed, following the model—then considered highly profitable—of the sector’s undisputed leader, Strategy, and its Bitcoin holdings.
Then the price of BTC entered a sustained downtrend, eventually settling below the $95,000 level since November. This has destabilized some of the less robust companies, as their stock prices have plummeted.
In this challenging environment, some players seem determined to come out on top, such as Strive—co-founded by former White House candidate Vivek Ramaswamy—which is clearly set on expanding by announcing the acquisition of Bitcoin Treasury Semler Scientific. A first of its kind, according to its CEO, Matt Cole.
I am proud of the execution by the Strive team on behalf of our shareholders, as we make history with the first-ever acquisition of a publicly traded Bitcoin treasury company. The Semler Scientific transaction will extend Strive’s track record of benchmark returns since the launch of our Bitcoin strategy, bringing our Bitcoin return for the first quarter of 2026 to over 15%.
Matt Cole
However, this transaction was not enough to revive the price of its ASST stock, which has fallen by more than 90% from its peak last May at $13—when Strive officially announced its intention to purchase up to $500 million in BTC—and by nearly 12% over the past few hours
Strive’s stock has seen a significant decline over the past few months
Strive now ranks ahead of Tesla and Trump Media
From a more technical perspective, this acquisition takes the form of an “all-stock transaction,” to which are, of course, added the 5,048 BTC held by Semler Scientific, currently estimated at approximately $480 million.
At the same time, Strive announced the purchase of an additional 123 BTC for its corporate treasury at an average price of $91,561. As a result, its total Bitcoin holdings, combined with those of Semler Scientific, now total 12,798 BTC, worth just over $1.2 billion.
This amount allows Strive to “surpass both Tesla and Trump Media & Technology Group” in the global Bitcoin Treasuries rankings, “thereby becoming the 11th-largest institutional holder of Bitcoin.”
Strive Ranks 11th Among Global Bitcoin Treasuries
Following this acquisition, Strive also announced its intention to “repay Semler Scientific’s historic $100 million convertible note as well as the $20 million Coinbase loan” within the next 12 months, while remaining focused on its Bitcoin-related operations.
