Important points
- Strive Asset Management shares rose 49% after Mike Alfred bought more than 1 million shares.
- Strive's acquisition of Semler Scientific is aimed at increasing the company's Bitcoin holdings and position in corporate crypto acquisitions.
Shares of Strive Asset Management (ASST) rose 49% on Monday after hedge fund manager Mike Alfred announced he had bought more than 1 million shares of the Bitcoin-focused company that recently signed a deal to acquire Semler Scientific.
“Strive is one of the most promising BTC government bond companies around the world trading at attractive levels. Don't bet on generational talent like (Ben Workman) and (James Lavish),” Alfred wrote in an Oct. 25 post.
Previously, Alfredo caused Bakkt shares to soar more than 40% after the cryptocurrency company appointed him to its board of directors.
Following Monday's surge, ASST stock has risen about 90% over the past week, according to Yahoo Finance data.
Semler Scientific (SMLR) also posted solid trading, rising 31% at market close.
In May, Strive, co-founded by Vivek Ramaswamy, merged with Asset Entities to create a public Bitcoin finance company.
The company recently agreed to acquire Semler Scientific in an all-stock transaction, subject to customary closing conditions and approved by both companies' boards of directors.
The acquisition is aimed at accelerating Strive's Bitcoin per share growth and strengthening its position in the fast-growing corporate crypto acquisition market. After the acquisition, Strive will hold over 10,900 BTC.
