Shares of Strive fell sharply after the company announced a one-for-20 reverse stock split alongside its acquisition of Semler Scientific, catching investors off guard despite the added Bitcoin exposure.
The all-stock deal transfers Semler’s 5,048 BTC to Strive, lifting combined holdings to nearly 12,798 Bitcoin. This puts the merged firm ahead of Tesla and Trump Media in corporate Bitcoin rankings. The total also includes Strive’s recent purchase of 123 BTC at prices above $91,000.
Strive said the reverse split was designed to lift its share price to levels more attractive to institutional investors, as the stock had traded below $1 for months. Following the announcement, Strive shares dropped about 12%, while Semler fell nearly 10%.
Management defended the move as neutral from a valuation standpoint. Analysts say the deal highlights consolidation pressures across the corporate crypto treasury space as firms struggle with falling stock prices.
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