Strive Asset Management has moved into the ranks of the world’s largest publicly traded corporate holders of Bitcoin after expanding its digital asset treasury and rapidly paying down debt linked to a recent acquisition.
The financial services firm disclosed on Wednesday that it had purchased an additional 333.89 Bitcoin at an average price of $89,851, lifting its total holdings to 13,131.82 BTC. At current market prices, the position is valued at roughly $1.1 billion, placing Strive among the top 10 publicly listed companies with the largest Bitcoin reserves.
Alongside the latest purchase, Strive revealed that it has already repaid approximately 92% of the debt associated with its acquisition of Semler Scientific, a medical technology company that had previously adopted a Bitcoin-focused treasury strategy. The transaction combined Semler’s existing Bitcoin holdings of 5,048 BTC with Strive’s balance sheet, significantly accelerating the firm’s push to build a Bitcoin-powered corporate treasury.
Strive Chairman and Chief Executive Officer Matt Cole said the swift reduction in debt demonstrates the company’s commitment to disciplined capital management. He noted that retiring more than 90% of Semler’s legacy obligations just 11 days after the deal closed reflects Strive’s confidence in aligning long-term Bitcoin exposure with long-term financing structures. According to Cole, the firm intends to eliminate the remaining debt by April, returning fully to an equity-based approach for expanding its Bitcoin holdings.
The acquisition of Semler was approved by shareholders earlier this month, though the announcement initially triggered sharp declines in the share prices of both companies. Despite the short-term market reaction, the deal was finalised within days, marking a major step in Strive’s strategy to position itself as a leading institutional vehicle for Bitcoin exposure.
Strive also announced the completion of a follow-on offering of its preferred stock, SATA, issuing 1.3 million shares at $90 each. The offering attracted more than $600 million in investor demand, underscoring what the firm described as a growing appetite for digital credit and Bitcoin-linked financial products. Chief Investment Officer Ben Werkman said the oversubscribed raise highlighted investor confidence in Strive’s execution and long-term vision.
Founded by entrepreneur and former Ohio gubernatorial candidate Vivek Ramaswamy, Strive has steadily increased its presence in the digital asset space. The firm raised $750 million last May specifically to acquire Bitcoin and has previously urged other public companies, including GameStop, to consider adding BTC to their balance sheets.
Despite these strategic milestones, Strive’s share price has continued to struggle. Shares of ASST were down roughly 1.5% in early Wednesday trading and have fallen close to 10% over the past week. Over the last six months, the stock has declined by more than 78%, recently trading around $0.80.
