Strive Inc. (Nasdaq: ASST), a publicly traded asset management bitcoin treasury company, announced on Jan. 13 that Semler Scientific Inc. (Nasdaq: SMLR) shareholders approved an all-stock acquisition, significantly expanding Strive’s bitcoin holdings. The deal includes acquiring Semler’s 5,048.1 bitcoin, resulting in the combined company holding 12,797.9 bitcoin—surpassing Tesla and Trump Media & Technology Group to become the 11th largest corporate bitcoin holder. Prior to closing, Strive purchased 123 bitcoin at an average price of $91,561 (totaling $11.3 million including fees), boosting its standalone holdings to 7,749.8 bitcoin.
The announcement triggered volatile trading: Strive shares closed at $0.97, down 11.82% after ranging from $0.8911 to $1.17 with volume exceeding 360 million shares (versus a 117 million average). Semler fell 9.64% to $20.34, trading between $18.81 and $24.19. Pre-market on Jan. 14 showed modest stabilization, with Semler up 0.20% and Strive down 1.00%, at market caps of $311 million and $867 million, respectively. Strive’s board approved a 1-for-20 reverse stock split to attract institutional investors.
CEO Cole highlighted the deal’s alignment with Strive’s capital strategy, projecting over 15% bitcoin yield by Q1 2026. Post-closing, Strive plans to monetize Semler’s operating business within 12 months and retire legacy obligations, including a $100 million convertible note and $20 million Coinbase loan. Eric Semler will join Strive’s board, with Cantor Fitzgerald and Liontree Advisors as financial advisers.
Bitcoin's price surged 1.23% to $96,617.34, achieving a year-to-date gain of over 10%, driven by investor optimism ahead of the Senate's vote on a cryptocurrency bill that could provide a clearer regulatory framework.
The Crypto Fear & Greed Index shifted from 'Neutral' to 'Greed', signaling rising demand for Bitcoin and potential for a breakout above $100,000, according to analysts.
Market volatility intensified, with over $380 million liquidated across cryptocurrencies in the last 24 hours, mainly short positions, while Bitcoin's open interest climbed 2.76%, indicating strong investor engagement.
In contrast, the Dow Jones Industrial Average dropped 42.36 points (0.09%) amid geopolitical tensions and caution toward risk assets. On Coinbase, Barclays cut its price target to $258 from $291, maintaining Equal Weight ahead of the Q4 report, citing softer trading volumes, mixed crypto prices, and slowing USDC growth. Bank of America upgraded Coinbase to Buy from Neutral with a $340 target, noting the stock's 40% decline from July highs but highlighting increased product velocity and expansion into stock/ETF trading and prediction markets to become the "everything exchange." Compass Point's Ed Engel initiated Coincheck coverage with a Buy rating and $5 target.
