Strive Acquires 334 More BTC While Eliminating 92% of Semler Scientific Acquisition Debt
In a strategic move, Strive has purchased an additional 334 Bitcoin while simultaneously wiping out 92% of the debt obligations it took on through the recently completed Semler Scientific acquisition.
The Bitcoin treasury firm Strive announced it has successfully paid down 92% of the debt obligations it assumed following its acquisition of Semler Scientific completed earlier in January, while also adding 334 Bitcoin to its holdings after closing a preferred stock offering.
In a Wednesday announcement, Strive revealed that its Variable Rate Series A Perpetual Preferred Stock offering, which trades under the ticker "SATA," attracted $600 million in demand. The overwhelming interest prompted the company to increase its initial fundraising target from $150 million to a final $225 million.
This particular stock offering represents a form of long-term equity financing structure intended to facilitate Bitcoin (BTC) purchases without adding leverage to the company's balance sheet.
Strive, which has backing from Vivek Ramaswamy, completed its takeover of the former Bitcoin treasury firm Semler Scientific on Jan. 13, following an agreement to merge that was reached in September.
In statements made earlier in the month, Strive outlined plans to allocate capital from the stock offering, combined with cash on hand and potential funds from unwinding existing hedging positions, toward settling outstanding liabilities. Any remaining capital would then be directed toward purchasing Bitcoin and Bitcoin-related investment products.
Wednesday's announcement confirmed that the proceeds will be deployed to retire $110 million, representing 92% of the debt assumed from Semler. This includes $90 million in convertible notes that were exchanged for SATA stock, along with the complete repayment of a $20 million credit facility from Coinbase.
Following the repayment of the Coinbase credit facility, Strive noted that its entire Bitcoin position is now completely unencumbered by any loans or collateral requirements. The company also indicated its intention to eliminate the remaining $10 million in outstanding debt over the coming four-month period.
Following its acquisition of 333.9 Bitcoin at an average cost of $89,851 per coin, Strive has now climbed into the ranks of the top 10 corporate Bitcoin treasury holders, bringing its total holdings to 13,132 BTC, currently valued at $1.17 billion.
The company highlighted that its Bitcoin yield currently stands at 21.2% quarter-to-date, a metric that measures the percentage increase in Bitcoin exposure per common share across a specific timeframe.
Strive stock declined despite Wednesday announcement
Despite the positive balance sheet developments, Strive's stock performance remained in negative territory on Wednesday, with ASST shares declining 2.23% to close at $0.80, according to data from Google Finance.
ASST shares have now plummeted 92.4% from their all-time high of $10.46 reached when the company first announced its Bitcoin treasury strategy, underscoring the significant volatility and execution challenges associated with corporate Bitcoin treasury approaches.
The trend of building Bitcoin treasuries gained substantial traction among institutional players throughout 2024 and into early 2025. However, numerous companies pursuing this strategy experienced significant share price declines during the latter portion of last year as market participants began questioning the long-term viability of these approaches.
Currently, more than 190 publicly traded companies maintain Bitcoin positions on their corporate balance sheets, with combined holdings totaling approximately 1.134 million Bitcoin — accounting for roughly 5.4% of the cryptocurrency's entire circulating supply.
Approximately 63% of all corporate Bitcoin holdings are concentrated in Michael Saylor's Strategy, which has maintained its Bitcoin acquisition program despite recent challenges related to declining funding availability amid a broader cryptocurrency market downturn in recent months.