Vivek Ramaswamy-Backed Strive Jumps Ahead Of Semler Merger Vote On Bitcoin Treasury Bet

Both stocks saw retail sentiment trending in ‘extremely bullish’ territory amid ‘high’ levels of chatter over the past day on Stocktwits.

• ASST’s stock outperformed other crypto equities in overnight trade after jumping more than 16% in the regular session. 
• SMLR’s stock edged 0.8% lower after-hours after seeing a similar pump of over 16% during the day.
• Retail interest has spiked over more than 80% in the last three months since the merger news.

Shares of Vivek Ramaswamy-backed Strive (ASST) outperformed other crypto-linked equities in overnight trade on Monday, ahead of a shareholder vote on Tuesday that will determine whether the company completes its proposed merger with Semler Scientific (SMLR). 

ASST’s stock gained as much as 3.64% after-hours following a gain of more than 16% in regular trading. Meanwhile, SMLR’s stock edged 0.8% lower after-hours after seeing a similar jump of over 16% during the day. Both stocks saw retail sentiment trending in ‘extremely bullish’ territory amid ‘high’ levels of chatter on Stocktwits. Platform data showed chatter has surged more than 1,200% in the last 24 hours.

Combined Bitcoin Treasury To Be At Par With COIN, HUT, CLSK

In December, Semler Scientific chairman Eric Semler, urged shareholders to approve the transaction ahead of the vote coming Tuesday, stating that the combined entity would hold approximately 13,000 Bitcoin (BTC) and rank among the world’s largest corporate holders.

CoinGecko data suggests a treasury of that size would not place the firm in the global top 10. Holdings of roughly 13,000 BTC would position the combined company alongside Coinbase Global (COIN), Hut 8 (HUT), and CleanSpark (CLSK), each of which controls similar amounts, and above Trump Media & Technology Group (DJT), which holds about 11,500 Bitcoin.

Retail Interest Spikes 80% Since Merger News

Strive, cofounded by former U.S. presidential candidate Vivek Ramaswamy, agreed to acquire Semler Scientific in an all-stock deal in September last year. Under the terms of the agreement, Semler shareholders would receive 21.05 shares of ASST for each share of SMLR they own.

Stocktwits data shows that over the past three months, retail chatter around ASST has climbed more than 43%, while the number of users following the stock has increased by nearly 80%.

Strive confirmed that Semler would join its board following the merger. The agreement is structured to allow the new company to deploy its Bitcoin holdings to earn yield, rather than maintaining a purely passive treasury strategy. Something Tom Lee-backed Bitmine Immersion (BMNR) has also done with its Ethereum (ETH) holdings.

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