Vivek Ramaswamy-Backed Strive Slips Despite Bitcoin Buy, Stripping Away Most Of Semler’s Debt

• CEO Matt Cole said that the Vivek Ramaswamy-backed company has reduced roughly 92% of Semler-related debt following the merger and expects the firm to be fully debt-free by April.
• He added that Strive’s Bitcoin holdings increased 21% during the first quarter of 2026.
• Shares of ASST fell during regular trading on Wednesday despite the announcement.

Strive (ASST) Chairman and CEO Matt Cole announced on Wednesday that the company has acquired an additional 333.9 Bitcoin (BTC) and is now the 10th largest corporate holder of the apex cryptocurrency.

In a post on X, he added that 92% of Semler’s debt had been shaved off after the acquisition, with plans to be fully debt-free by April. Cole stated that In the first quarter (Q1) of 2026, the firm increased its Bitcoin holdings by 21%.

Debt Reduction Fails To Lift ASST Stock

Despite the announcement, ASST’s stock fell 2.23% in regular trade and edged 0.11% lower after hours. Retail sentiment on Stocktwits around the firm trended in ‘bearish’ territory over the past day.

Bitcoin’s price was down 1% in the last 24 hours, trading at around $88,150 after the crypto market took a hit following the Federal Reserve’s decision not to cut interest rates any further. The apex cryptocurrency has fallen nearly 2% over the past week. On Stocktwits, retail sentiment around BTC dipped to ‘extremely bearish’ from ‘bearish’ over the past day.

Strive Increases SATA Offer

Cole’s update comes after the Vivek Ramaswamy-backed firm announced on Wednesday that demand for its Variable Rate Series A Perpetual Preferred Stock (SATA) reached $600 million, leading the firm to raise the offering size to $225 million from an initial $150 million.

The preferred shares are structured as long-duration equity financing intended to fund Bitcoin purchases without increasing leverage. The strategy echoes that of Michael Saylor’s Strategy (MSTR), which has expanded its Bitcoin holdings through equity-linked financing rather than traditional debt.

SATA and STRC, Strategy’s Bitcoin-backed preferred stock, are both perpetual instruments supported by their companies’ Bitcoin treasuries. They pay dividends funded by fiat inflows that can be used to buy more Bitcoin, giving investors yield and Bitcoin exposure without asset sales, while differing in terms of yield, structure, and risk.

Earlier this month, Strive said it would use money raised through SATA, together with its existing cash and potential proceeds from unwinding hedging transactions, to pay down debt. Any leftover funds would then be directed toward buying Bitcoin and related products.

Read also: Bitcoin, Ethereum Drop While Gold Extends Record Run Following Fed Decision

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