Strive Stock slides 12% after clearing noise from Semler’s deal
Strive has received shareholder approval to acquire Semler Scientific in an all-stock transaction. This combination pushes the company to become the 11th corporate holler of Bitcoin (BTC).
However, market reaction to the merger was lukewarm, with Strive's stock ( ASST ) falling nearly 12% on Tuesday.
Strive expands Bitcoin treasury with Semler Scientific consensus
The acquisition vote process began in late December 2025 at a special meeting scheduled for January 13 to approve the merger. Semler Scientific shareholders approved the deal, according to a press release. This transfers ownership of 5,048.1 Bitcoin to Strive.
Sponsored
Strive recently announced the purchase of an additional 123 bitcoins at an average price of $91,561 per coin. This brings his independent holdings to 7,749.8 Bitcoin. The entity associated with the purchase is expected to hold 12,797.9 bitcoins.
This makes the company among the largest corporate bitcoin holders worldwide, surpassing Tesla and Trump's media and technology group. The company is the 11th largest corporate holder of Bitcoin, closely followed by CleanSpark, which holds 13,099 BTC.
“The Semler Scientific deal continues Strive's leading profit generation since the inception of our Bitcoin strategy, increases Q1 2026 Bitcoin production by more than 15%, and is a win for both Strive and Semler Scientific shareholders. We are demonstrating how to execute the market with Bitcoin as your hurdle rate,” said Strive's CEO Matt Cole.
In addition, Eric Semler, CEO of Semler Scientific, will join Strive's board of directors following the completion of the transaction. Cantor Fitzgerald is acting as financial advisor to Strive, and Davis Polk & Wardwell is serving as legal counsel. Meanwhile, LionTree Advisors and Goodwin Procter are advising Semler Scientific.
In addition to expanding its Bitcoin reserves, Strive plans to monetize Semler's operating business within 12 months of the closing of the transaction and review options to retire the company's debt obligations.
This includes a $100 million convertible note and a $20 million loan from Coinbase. These initiatives are subject to market conditions.
Finally, in parallel with the merger, the board authorized a 1-for-20 reverse stock split for the combined company's Class A and Class B common shares. Chief Investment Officer Ben Workman said the move will align the company's stock price to a level more suitable for institutional investors and expand its presence.
However, following the news, Strive's stock suffered a sharp decline. According to Google Financials, ASST is down 12%, closing at $0.97 on January 13. Still, in pre-market trading, the stock gained more than 2%.
In addition to stock performance, the company faces significant unexpected losses on existing holdings. Independent Bitcoin holdings are valued at around $738.84 million. This represents an unrealized loss of approximately 15.4% or $135.2 million based on recent market prices.
