Crypto Market Update: Strive to Acquire Semler Scientific in $1.34 Billion Deal Amidst Market Volatility
September 22, 2025 – By Giann Liguid & Meagen Seatter
The cryptocurrency sector experienced notable volatility and significant corporate developments on Monday, September 22, 2025. Among the headline-making news, Strive (NASDAQ: ASST), a company with a prominent Bitcoin treasury strategy, announced plans to acquire Semler Scientific (NASDAQ: SMLR) in an all-stock deal valued at approximately $1.34 billion. This acquisition is poised to create one of the largest corporate Bitcoin holders globally.
Market Overview: Price Fluctuations and Liquidations
As of September 22 at 9:00 p.m. UTC, Bitcoin (BTC) was trading near $112,214, reflecting a 2.9% decline within 24 hours and hitting the lowest point of the day. Earlier, Bitcoin peaked at $113,384 before dropping below a key support level, triggering over $1.7 billion in leveraged long position liquidations—the largest such event so far in 2025. Despite this downturn, some investors showed accumulation signs through increasing exchange outflows and heightened long positions on platforms such as Bitfinex, illustrating mixed market pressures.
Ethereum (ETH) also faced downward pressure on Monday, trading around $4,141.26, down 7.9% over the day. Other notable altcoins like Solana (SOL), XRP, Sui (SUI), and Cardano (ADA) recorded daily losses ranging from 5.2% to 8.8%, all marking their daily lows by market close.
In total, cryptocurrency liquidations reached $132.07 million within a recent four-hour window. Of this, long positions accounted for $81.71 million, indicating bearish sentiment, though the BTC perpetual futures funding rate of 0.0081% suggests some underlying bullish optimism. Ethereum’s funding rate was more subdued at 0.002%.
Strive and Semler Scientific: A Strategic Bitcoin Treasury Merger
Strive, founded by former presidential candidate Vivek Ramaswamy and formerly an asset manager, transitioned into a Bitcoin treasury company in 2025 following a merger with Asset Entities. Semler Scientific, initially a healthcare technology firm, pivoted its focus in 2024 by adopting Bitcoin as its primary treasury reserve asset.
The proposed deal involves Strive acquiring Semler Scientific through an all-stock transaction valued at approximately $1.34 billion. This merger is projected to combine their Bitcoin holdings to over 10,900 BTC, establishing the merged entity as a prominent player in corporate Bitcoin accumulation.
Ahead of the acquisition’s completion, Strive announced a substantial $675 million Bitcoin purchase intended to boost its holdings from around 70 BTC to nearly 6,000 BTC. The acquisition terms offer Semler shareholders a 210% premium, exchanging each Semler share for 21.05 shares of Strive’s Class A stock.
Matt Cole, Chairman and CEO of Strive, stated, “We are proud to announce this exciting strategic merger combining two pioneering Bitcoin treasury companies to form a scaled, innovative and accretive Bitcoin acquisition platform.”
Other Notable Developments in Crypto
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Metaplanet’s Expansion in Bitcoin Holdings: Tokyo-based Metaplanet (TSE: 3350, OTCQX: MTPLF) recently boosted its corporate Bitcoin treasury by purchasing 5,419 BTC for approximately $633 million. This increased their total Bitcoin stash to 25,555 BTC, valued at nearly $3 billion, making it the fifth-largest corporate Bitcoin holder worldwide.
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Upcoming UK Bitcoin Fraud Trial: London’s courts are set to commence proceedings on September 29 for Zhimin Qian, accused of operating a $7 billion Ponzi scheme involving Bitcoin. Qian allegedly converted illicit proceeds to Bitcoin following China’s crypto crackdown and fled the country. The trial is expected to spotlight issues surrounding cryptocurrency-related fraud and money laundering.
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Coinbase Launches Mag7 + Crypto Equity Index Futures: Coinbase Global (NASDAQ: COIN) introduced a monthly, cash-settled futures contract offering equal exposure to 10 assets, including major tech stocks and crypto ETFs. This marks the first US-listed derivative combining traditional equities with cryptocurrency assets.
Market Indicators and Upcoming Influences
The crypto market’s Fear & Greed Index remained neutral over the past week. While negative funding rates and certain long/short ratios suggest a cautious environment, strong inflows into exchange-traded funds (ETFs) and increased buying by large investors (“whales”) reflect robust bullish conviction beneath the surface.
Market participants are closely watching upcoming regulatory hearings on cryptocurrency oversight, scheduled for late September, alongside important macroeconomic data such as the US existing home sales report due on Wednesday, September 24. Additionally, remarks from US Federal Reserve policymakers at the Greater Providence Chamber of Commerce 2025 Economic Outlook Luncheon are expected to impact market sentiment.
Stay connected with the latest cryptocurrency news and market developments by following @INN_Technology.
About the Authors
Giann Liguid is a seasoned writer with expertise spanning security, food, and business sectors.
Meagen Seatter is an Investment Market Content Specialist passionate about technology markets and finance.
Disclaimer: Neither author holds direct investment interests in the companies mentioned in this article.