Strive overtakes Tesla with 12,800 Bitcoin, yet equity investors flee – Why?

In a recent development, Strive, Inc. has officially cleared the final hurdle, as Semler Scientific stockholders voted this week to approve an all-stock acquisition.

Once approved, the deal will create a major Bitcoin powerhouse.

By adding Semler’s 5,048.1 BTC and its own recent buys, Strive will hold about 12,800 BTC in total.

With this move, Strive now outpaces the BTC holdings of Tesla and Trump Media to claim the 11th spot on the global corporate leaderboard.

Strive’s bold bitcoin holdings

Remarking on the merger, Matt Cole, Chairman & CEO of Strive, said that the deal would strengthen the company’s Bitcoin strategy by extending its yield generation track record.

He believes that the acquisition will lift Strive’s Bitcoin yield to over 15% by the first quarter of 2026. 

Cole said,

“I’m proud of the execution the Strive team has delivered for our shareholders, making history towards completing the first acquisition of a publicly traded Bitcoin treasury company.”

Cole added,

“We are showing the market how to execute with Bitcoin as your hurdle rate.”

This acquisition, coupled with a fresh purchase of 123 Bitcoin [BTC] at a cost-basis of $91,561 per coin, has pushed Strive’s total holdings to a staggering 12,797.9 BTC.

What’s the reason behind this move?

As per the press release, the management has laid out a 12-month roadmap. It specifies how to monetize Semler’s legacy healthcare operations, redirecting those proceeds toward a critical phase of deleveraging.

The primary targets include retiring Semler’s $100 million convertible note and a $20 million Bitcoin-backed loan from Coinbase.

By removing these obstacles, Strive plans to use only preferred equity to grow its Bitcoin exposure.

Unlike regular debt that must be repaid on a deadline, this model uses long-term preferred equity.

This helps grow Bitcoin holdings without the risk of forced selling during market drops.

In fact, Strive’s recent addition of 101.8 BTC to its balance sheet on the 4th of January further serves as an initial step to the massive Semler acquisition.

The market sell-off and more

Yet despite the announcement, Strive’s ASST plummeted to a low of $0.90, eventually settling around $0.97, a sharp 11.82% decline.

Similarly, Semler Scientific [SMLR] tumbled nearly 10% to trade at $20.34 as per Google Finance data.

However, while ASST and SMLR struggled, BTC finally shook off its recent bearish moves. 

The token surged 3.55% over the last 24 hours, reclaiming the $95,000 level to trade at $95,036.57, according to CoinMarketCap data.

Final thoughts

• The market’s sharp sell-off highlights a growing disconnect between Bitcoin accumulation and equity investor sentiment.
• Strive’s plan to monetize legacy healthcare assets shows a deliberate move away from non-core businesses toward a Bitcoin-first identity.