Well, bless my stars and garters! Strive Inc., that plucky little asset manager turned Bitcoin hoarder, helmed by the ever-ambitious Vivek Ramaswamy (yes, the fella who once fancied himself President), has gone and gobbled up Semler Scientific like a catfish at a bait festival. 🤠 And why, you ask? To become one of the biggest corporate Bitcoin bigwigs, of course! What a rip-roaring time to be alive!
In a Monday proclamation that made the town crier blush, the companies declared an all-stock swaperoo. Semler shareholders, instead of cold hard cash, will get Strive shares-21.05 of ’em for every Semler share, no less! That’s a whopping 210% premium, folks. Somebody’s sleeping on a pile of digital gold tonight. 💰
But wait, there’s more! Strive didn’t just stop at buying a company; oh no, they went and splurged on 5,816 Bitcoins for a cool $675 million. That’s right, they’re now sitting on a treasure trove of 5,886 BTC. Before this shindig, they were just a gnat in the Bitcoin treasury jungle, holding a measly 70 BTC. Talk about a glow-up! ✨
The combined outfit will now lord over more than 10,900 BTC, making it the 12th-largest Bitcoin baron-outranking the likes of Hut 8 Mining, Block Inc., and Galaxy Digital. Who’s laughing now, eh? 😏
Ramaswamy, that sly fox, first hinted at Strive’s Bitcoin treasure map back in May, just as they were plotting their reverse merger shenanigans. Semler Scientific, a health-tech outfit that jumped on the Bitcoin bandwagon in 2024, has been stacking sats like there’s no tomorrow. Their latest earnings report? A mixed bag of tricks-revenue down 43%, but a tidy $66.9 million in net income. Can’t win ’em all, I reckon. 🤷♂️
Bitcoin Treasury Mergers: The New Gold Rush? 🏇
This Strive-Semler hoedown comes smack dab in the middle of a digital asset treasure hunt, where companies are piling up Bitcoin like it’s going out of style. And let’s not forget the sprinkle of Ether and Solana for good measure. Standard Chartered reckons this deal might just be the tip of the iceberg-a sign of compressed market net asset values (mNAVs), which make expansion trickier than herding cats. 🐱
For these crypto treasure hunters, mNAV is the ratio of a company’s worth to its digital loot. When it dips below 1, expanding the chest gets riskier than a game of poker with a shark. Especially if you’re funding it with debt. Yikes! 😬
Standard Chartered’s crystal ball says industry consolidation is nigh, with the big fish swallowing the minnows. If mNAVs stay in the dumps, the strong will feast on the weak. HashKey Capital’s Deng Chao chimed in, warning that only those with a long-term game plan will “survive any market.” Wise words, but will anyone listen? Only time will tell, my friends. ⏳
“Digital assets ain’t the problem,” Chao told CryptoMoon, “it’s how you juggle ’em that counts.” Well said, Deng. Well said. 🎩
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2025-09-22 22:37