Odaily Planet Daily reported that David Duong, head of Coinbase's investment research department, said that as the market cycle matures and companies strive to attract investors, they may begin to promote mergers and acquisitions. Digital asset treasury companies (DATs) will eventually be consolidated into a few large institutions, just like the recent cooperation between Strive and Semler Scientific.

Strive, an asset management firm transitioning to a Bitcoin treasury, announced on September 22 that it would acquire Semler Scientific, also a digital asset treasury (DAT), in an all-stock transaction.