Strive Completes Acquisition of Semler Scientific
Strive (ASST) announced the completion of the previously announced acquisition of Semler Scientific (SMLR). Strive now holds approximately 12,797.9 bitcoin, becoming the #11 largest public corporate holder of bitcoin globally. Strive also announces the appointment of Avik Roy as Chief Strategy Officer of Strive. Mr. Roy's initial focus will be on Strive's intentions to monetize the operating business from the Semler Scientific subsidiary by expanding its mandate in early disease detection products. Mr. Roy was previously an independent board member of Strive and will step down from that position to join the company in a full-time capacity and serve as a board observer for the company. Eric Semler, former chairman and Executive Chairman of Semler Scientific, has joined as an independent board member of Strive. Joe Burnett, previously director of Bitcoin Strategy for Semler Scientific, has joined Strive as VP of Bitcoin Strategy.
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- Investment Scale: Strive's $50 million purchase of Strategy's STRC preferred stock indicates strong confidence in STRC, particularly following Michael Saylor's claim that STRC achieved a Sharpe ratio exceeding 3, significantly outperforming Nvidia, Tesla, and gold, showcasing STRC's competitive edge in risk-adjusted returns.
- Sharpe Ratio Performance: Saylor highlighted on social media that STRC's Sharpe ratio stands at 3.08, well above gold's 2.88, Alphabet's 2.65, Nvidia's 1.66, and Tesla's 1.32, indicating STRC's exceptional performance in risk management, which may attract more investor interest.
- Dividend Adjustment: STRC currently yields 11.5% with monthly cash distributions, and the dividend rate adjusts monthly to keep shares trading close to their $100 par value, a mechanism that helps limit price volatility and enhance investor confidence.
- Market Dynamics: Despite Strive's SATA preferred stock dividend being raised by 25 basis points to 12.75%, its share price remains below par, reflecting cautious market sentiment regarding its future performance, while MSTR's stock price hovers near critical resistance levels, necessitating close monitoring of future trends.
- Bitcoin Holdings Increase: Strive Inc. added 179 Bitcoin, bringing its total holdings to approximately 13,311 BTC, demonstrating the company's commitment to its Bitcoin strategy aimed at enhancing balance sheet stability.
- STRC Stock Investment: The company purchased 500,000 shares of Strategy's STRC preferred stock for $50 million, intending to generate yield from STRC to support its Bitcoin-linked financial products, thereby optimizing its capital structure.
- Dividend Rate Increase: Strive announced an increase in its SATA digital credit product's dividend rate to 12.75%, with a planned payment of $1.0625 per share on April 15, reflecting proactive cash flow management strategies.
- Enhanced Financial Resilience: With $143.4 million in cash and cash equivalents, combined with Bitcoin and STRC investments, the company can cover over 19 years of SATA interest payments, showcasing its financial resilience amid market fluctuations.
- Innovative Funding Allocation: Strive's investment of $50 million into Strategy's Variable Rate Series A Perpetual Stretch Preferred Stock represents over one-third of its corporate treasury, highlighting the recognition of digital credit's role in modern financial management.
- Growing Market Adoption: In addition to Strive, companies like Prevalon Energy, Anchorage Digital, and OranjeBTC have also integrated STRC into their corporate treasuries, indicating a trend among institutions to adopt this financial instrument for optimizing their treasury strategies.
- Record Trading Volume: STRC achieved a daily traded volume of $409 million yesterday, marking the highest in its history, which reflects strong market interest and enhanced liquidity, while the 30-day volatility dropped to 3%, the lowest recorded level, indicating improved market stability.
- Strategic Implications: Strategy's CEO Phong Le noted that as more institutions recognize the potential of digital credit, the adoption rate of STRC continues to grow, which not only enhances the company's position in the industry but may also drive future business expansion and innovation.
- GEMI Stock Performance: GEMI stock rose over 1% following a $130 million Bitcoin transfer by its founders, reflecting market confidence in its future potential, although retail sentiment shifted from 'extremely bullish' to 'bullish'.
- ABTC Price Fluctuation: American Bitcoin Corp (ABTC) gained after board members purchased $1.6 million in shares, yet retail sentiment dropped from 'bullish' to 'neutral' amid Bitcoin's price decline, indicating market caution regarding its outlook.
- FIGR Price Pullback: Despite FIGR's previous session gain of over 21%, it saw a slight pre-market decline of 0.33%, reflecting trader concerns over Bitcoin's retreat, although retail sentiment improved.
- Market Sentiment Shift: Overall, crypto-linked equities showed mixed performance, with Bitcoin pulling back from a high of $71,600 to $69,322, causing retail sentiment to drop from 'bullish' to 'neutral', highlighting investor caution amid market volatility.
- Market Performance: The S&P 500 index fell by 0.21%, the Dow Jones Industrial Average by 0.07%, and the Nasdaq 100 by 0.04%, reflecting market concerns over the Iran war and rising 10-year Treasury yields.
- Oil Price Plunge: WTI crude oil prices dropped by 12% following President Trump's assertion that the Iran war is 'pretty much' over, which not only alleviates inflationary pressures on the US economy but may also influence the Fed's monetary policy direction.
- Strong Home Sales: February existing home sales in the US rose by 1.7% month-over-month to 4.09 million, exceeding market expectations of 3.88 million, indicating resilience in the housing market that could support the stock market.
- Tech Stock Performance: Despite the overall market decline, most of the Magnificent Seven tech stocks rose, with Nvidia and Meta Platforms gaining over 1%, reflecting continued investor confidence in tech stocks, although Microsoft underperformed.
- Coverage Initiation: B. Riley Securities has initiated coverage on digital asset companies Strategy (MSTR) and Strive (ASST) with a Buy rating, indicating a positive outlook for their future performance, particularly in the current market environment.
- Market Stress Test: Analyst Fedor Shabalin noted that the DATCO model faced a stress test, with BTC peaking at $126,000 in October 2025 before falling to approximately $69,000 by March 2026, compressing mNAV premiums across the sector and impacting equity accretion for most DATCOs.
- Capital Structure Advantage: MSTR and ASST are well-positioned to navigate the current environment through their differentiated capital structures and disciplined BTC accumulation strategies, with both companies having established dedicated cash reserves to support preferred obligations, ensuring near-term dividend sustainability.
- Long-Term Appreciation Potential: Beyond attractive dividend yields, the analyst believes that investors in both common and preferred securities can benefit from the potential long-term appreciation of underlying BTC holdings, a value creation mechanism that MSTR has demonstrated over six years of BTC accumulation.











