Semler Scientific (SMLR) and Try Asset Administration (ASST) are poised to create one of many largest company Bitcoin treasuries within the US.
If authorised by shareholders on January 13, 2026, the all-stock merger would mix the 2 corporations’ operations to handle roughly 13,000 BTC, immediately rating the brand new entity among the many prime 11 public corporations by Bitcoin holdings.
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Semler Scientific and Try Merger May Create Bitcoin Powerhouse with 13,000 BTC Treasury
The deal presents a 21.05x conversion ratio, with SMLR shareholders receiving 21.05 ASST shares for each SMLR share they maintain.
The merger is greater than only a company consolidation; it represents a strategic pivot towards Bitcoin-centric company operations.
By permitting buyers to realize Bitcoin publicity by equities, the possible mixed firm would mirror fashions pioneered by MicroStrategy, providing establishments and funds that can’t maintain crypto immediately a approach to take part out there.
The merger additionally positions the brand new entity to leverage Try’s digital credit score platform, probably producing accretive financing alternatives and long-term shareholder worth.
On December 22, Try CEO Matt Cole urged shareholders to vote in favor, stating that ISS, a number one proxy advisory agency, recommends approval.
Eric Semler, chairman of Semler Scientific, emphasised the strategic rationale behind the merger. He famous that the mixed firm would maintain almost 13,000 BTC.
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“This scale enhances Try’s skill to pursue accretive financing alternatives within the digital credit score area and maximize long-term shareholder worth,” he stated in a late December put up.
Semler additionally confirmed he would be part of Try’s board post-merger to assist drive worth creation. The merger settlement is structured to allow the brand new entity to actively deploy its Bitcoin holdings within the digital credit score market somewhat than merely holding BTC passively.
By integrating crypto with lending and monetary companies, the corporate goals to unlock new income streams and improve its stability sheet resilience.
Try Asset Administration merged with Asset Entities (ASST) to kind the primary publicly traded asset administration firm. The transfer made the mixed firm a participant within the company Bitcoin treasury area, becoming a member of the likes of Technique.
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Combined Investor Sentiment Clouds Try-Semler Merger Regardless of Bitcoin Treasury Attraction
Whereas the Bitcoin treasury has drawn enthusiasm, investor sentiment has been combined. Try’s inventory (ASST) has fallen 96% from $18 in 2023 to $0.77 as of late December 2025. This raises questions amongst shareholders concerning the implied worth of the trade.
Some buyers have expressed concern that the 21.05x trade ratio could not totally compensate SMLR shareholders, significantly given the corporate’s latest 50% decline in its share value.
Discussions on social media mirror each optimism about potential post-merger catalysts, equivalent to warrant expirations, and skepticism over Try’s enterprise fundamentals.
“I don’t get it. Why would Semler shareholders need this inventory?” one person remarked.
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Regardless of the dangers, the deal represents a pioneering step in company Bitcoin treasury consolidation. The merger would transcend positioning the mixed firm as a prime public Bitcoin holder, to sign a broader pattern by which public corporations deal with Bitcoin as a strategic reserve asset somewhat than another funding.
Comparable mergers may emerge in 2026 as companies search to mix assets and capitalize on the rising adoption of crypto amongst corporates.
The shareholder vote stays open till January 13, 2026, at which era buyers will determine whether or not to approve the merger.
If handed, the deal may mark a major milestone in company Bitcoin adoption, reshaping each investor entry to crypto by equities and the broader sector of Bitcoin treasury methods within the public markets.