Vivek Ramaswamy’s Strive Makes Bold Moves: Acquires Semler Scientific, Bets Big on Tesla and Trump Media
Strive Asset Management, the investment firm founded by former Dogecoin Foundation head Vivek Ramaswamy, just placed a massive bet on the future of tech and media—and it's not playing it safe.
The Big Acquisition
Strive's headline move is the outright purchase of Semler Scientific. The medical tech firm, known for its vascular testing equipment, now finds itself under the umbrella of a fund manager with a notorious appetite for disruptive assets. This isn't a niche healthcare play; it's a strategic pivot, adding a tangible tech-hardware component to a portfolio already heavy with speculative momentum.
Doubling Down on Controversy
But the acquisition is only part of the story. Strive has also significantly increased its positions in two of the market's most volatile and politically charged stocks: Tesla and Trump Media & Technology Group. This one-two punch signals a relentless commitment to assets that trade as much on narrative as on fundamentals. It's a classic Ramaswamy maneuver—bypassing Wall Street consensus to back the companies that dominate the cultural conversation.
The firm is effectively betting that the convergence of technological innovation and media-driven populism will outperform traditional indexes. Whether this is visionary asset allocation or just performance art for your portfolio remains to be seen. After all, in modern finance, a compelling story can sometimes float a valuation longer than old-fashioned metrics like profit. The market will decide if this is genius or just another expensive plot twist.
What is Strive’s plan for Semler Scientific?
Matt Cole, chairman and CEO of Strive, said, “The Semler Scientific deal will continue Strive’s leading yield generation since inception of our Bitcoin strategy, boosting our 2026 1st quarter Bitcoin yield to over 15%, and is a win for both Strive and Semler Scientific shareholders,” while adding that they are showing the market how to execute with Bitcoin as the hurdle rate.
In the announcement, it was also disclosed that Strive has outlined plans to monetize Semler Scientific’s operating healthcare business within 12 months of closing the transaction.
The company also intends to pursue opportunities to retire Semler’s $100 million convertible note and $20 million Coinbase loan while taking into account the market conditions.
Semler Scientific, which develops FDA-cleared medical devices, including its flagship QuantaFlo test for early detection of peripheral arterial disease, was among the first US public companies to adopt Bitcoin as a primary treasury reserve asset. The company accumulated its digital holdings through equity and debt financing as well as operating cash flows.
Preferred equity strategy gains traction
The acquisition follows Strive’s successful November 2025 initial public offering (IPO) of its perpetual preferred equity instrument, known as SATA. The company increased the IPO from $125 million to $200 million after the offering was more than twice oversubscribed.
Following the IPO, Strive received unsolicited demand inquiries for over $100 million in additional preferred equity issuance.
Jeff Walton, the firm’s chief risk officer, said the SATA instrument offers investors a differentiated risk profile. According to Walton, “the balance sheet is comprised of a transparent, digitally native asset, allowing risk to be observed and measured in real time, compared to more traditional balance sheets comprised of illiquid physical risks.”
The company plans to issue more SATA shares over the next 12 months to fund its strategy of retiring Semler Scientific’s legacy debt while maintaining amplification exclusively through preferred equity rather than traditional debt financing.
Along with the merger, Strive’s board approved a 1-20 reverse stock split for shares of the Class A and Class B common stock of the combined company. Ben Werkman, chief investment officer, stated, “This proactive reverse split aligns our share price with institutional participation standards and opens our stock to a wider universe of investors.”
How is the market reacting?
The market did not react to the news with enthusiasm, as the shares of both companies fell following the announcement. Strive’s stock dropped more than 11%, while Semler Scientific declined by over 9%.
The transaction is expected to close in the coming weeks. Upon completion, Semler Scientific executive chairman Eric Semler will join Strive’s board of directors.
Public companies now hold nearly 5% of Bitcoin’s total supply.
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