- Strive Asset Management’s stock jumped 49% after Mike Alfred purchased over one million shares.
- Strive’s acquisition of Semler Scientific aims to boost its Bitcoin holdings and position in corporate crypto acquisitions.
Shares of Strive Asset Management (ASST) rallied 49% on Monday after hedge fund manager Mike Alfred said he purchased over one million shares of the Bitcoin-focused company, which recently struck a deal to buy Semler Scientific.
“Strive is one of the most promising BTC Treasury companies globally trading at an attractive level. You simply do not bet against a generational talent like [Ben Werkman], [James Lavish],” Alfred wrote in an Oct. 25 post.
Previously, Alfred sent Bakkt stock soaring over 40% after the crypto firm appointed him to its board of directors.
With Monday’s sharp rise, ASST shares have now climbed about 90% over the past week, Yahoo Finance data shows.
Semler Scientific (SMLR) also posted a strong session, gaining 31% at the market’s close.
In May, Strive, co-founded by Vivek Ramaswamy, merged with Asset Entities to establish a public Bitcoin treasury company.
The firm recently agreed to acquire Semler Scientific through an all-stock transaction, with approval from both companies’ boards and subject to customary closing conditions.
The acquisition aims to enhance Strive’s Bitcoin per share growth and consolidate its position in the burgeoning market of corporate crypto acquisitions. Post acquisition, Strive will have over 10,900 BTC.