Bitcoin Billionaires: Strive’s Wild Ride to Crypto Glory (and Debt Dumping)

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Vivek Ramaswamy’s brainchild, Strive, has decided that the best way to prove its financial acumen is to hoard Bitcoin like a squirrel with a nut obsession. In a move that screams, “We’re serious about this crypto thing,” the company has added 333 Bitcoin to its treasury, catapulting it into the top 10 corporate holders of the digital gold. Because nothing says “fiscal responsibility” like betting on a currency that fluctuates more than my mood on a Monday morning.

Oh, and did I mention they also retired 92% of the debt they inherited from Semler Scientific? Yes, the same Semler Scientific they acquired in a deal that probably involved a handshake and a “trust me, bro.” Strive used the proceeds from their upsized SATA preferred stock offering, which apparently attracted more investors than a free sample table at Costco.

  • Strive snagged 333.89 Bitcoin at an average price of $89,851, bringing their total stash to 13,131.82 BTC. Because who needs a 401(k) when you can have a cryptocurrency hoard?
  • They retired $110 million (92%) of the debt from Semler Scientific, which is like paying off your credit card bill with lottery winnings. Except the lottery is Wall Street, and the winnings are Bitcoin.

According to a press release that probably used more jargon than a tech startup pitch deck, Strive’s latest Bitcoin acquisition was executed at an average price of $89,851. Their total holdings now sit at 13,131.82 Bitcoin, valued at over $1.17 billion. That’s right-billion. With a B. And their Bitcoin yield is a whopping 21.2% quarter-to-date. Take that, savings account interest rates.

Meanwhile, Strive’s Variable Rate Series A Perpetual Preferred Stock offering (or SATA, as the cool kids call it) saw investor demand exceed $600 million. Because nothing says “confidence” like throwing money at a company that’s all-in on a currency that could crash harder than my New Year’s resolutions.

The proceeds from this offering were used to pay off $110 million of the $120 million debt inherited from Semler Scientific. This includes $90 million in convertible notes swapped for SATA stock and the full repayment of a $20 million Coinbase credit loan. The remaining $10 million? They’re hoping to tackle that in the next four months. Because why not add a little suspense to the mix?

Strive-Semler Merger: A Match Made in Crypto Heaven

Strive finalized its all-stock deal to acquire Semler Scientific on Jan. 13, after shareholders gave it the thumbs up like it was a Netflix series finale. The merger allowed Strive to consolidate Semler’s 5,048.1 Bitcoin, because why stop at being a crypto enthusiast when you can be a crypto mogul?

The company also plans to monetize Semler’s healthcare business, because apparently Bitcoin and blood pressure monitors go hand in hand. And instead of relying on traditional debt, they’re leaning on preferred equity to fund their crypto-centric capital strategy. Because nothing says “innovation” like reinventing the financial wheel.

Despite all this, investors were less than impressed, and ASST shares took a 2.2% nosedive on Wednesday. Meanwhile, Bitcoin is down 30% from its October high, proving that even digital gold has its bad days. Publicly traded companies that jumped on the Bitcoin bandwagon have seen their stocks slide faster than a kid on a Slip ’N Slide, a trend that’s continued into 2026.

According to Bitcoin Treasuries, over 190 publicly listed companies now hold about 1.134 million Bitcoin, or roughly 5.4% of the total circulating supply. So, if Bitcoin crashes, at least they’ll all be in it together. Misery loves company, right?

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2026-01-29 10:18