Bitcoin Finance Firms Face M&A Wave If BTC Price Remains Depressed, Warns Strive CIO

According to The Block, Strive Chief Investment Officer Ben Werkman warned on June 15 that prolonged bitcoin price weakness could strain convertible debt-dependent bitcoin finance companies, potentially forcing some to sell BTC to maintain operations or service debt, triggering mergers, asset sales, and restructuring.

Strive opted for equity-only financing to avoid convertible debt pressure and has acquired peer Semler Scientific as an industry consolidation case. Werkman noted that some companies are actively reducing debt and rebalancing their balance sheets, with more M&A and restructuring expected as firms adapt to sustained market softness and conservative valuations of bitcoin assets by rating agencies.