Strive announces $1.34 billion all-stock deal to acquire Semler Scientific, aiming to expand cryptocurrency holdings. Semler shareholders to receive 21.04 Class A common shares of Strive per share, valued at $90.52 – a 210% premium. Strive plans to own over 10,900 bitcoin, with future purchases using a “preferred equity only” model.

Shares of Semler up 8.3%, while Strive falls 8% in early trading. Semler, known for its healthcare business and point-of-care test, measures arterial blood flow in extremities. Strive, co-founded by former presidential candidate Vivek Ramaswamy, aims to pursue bitcoin treasury strategies, following industry trends.

Growing corporate adoption of bitcoin treasury strategies seen in Strive’s acquisition of Semler. Bitcoin gains 20.5% this year, surpassing S&P 500’s 13.3% rise. Cantor Fitzgerald advises Strive, while LionTree Advisors assists Semler in the deal. Ramaswamy, a longtime crypto advocate, focuses on Strive after leaving drugmaker Roivant Sciences.

Read more at Yahoo Finance: Ramaswamy-backed Strive to buy Semler in $1.3 billion deal all stock deal, boosting Bitcoin holdings