Bull's Eye on Bitcoin: Strive Asset Management Goes All-In
Strive Asset Management Reveals IPO Plans, Outlining Strategy for Cryptocurrency Integration
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Strive Asset Management, a hip-pocket financial services outfit co-founded by the ambitious Republican Ohio gubernatorial contestant Vivek Ramaswamy, declared a steamy plan this week to take the plunge into Bitcoin as a treasury reserve asset and unite with Asset Entities on the Nasdaq via a merger.
In a steamy press statement shared on Wednesday, Strive revealed that the merger with Asset Entities, an innovative tech firm excelling in social media marketing and content delivery, will allow the Dallas, Texas-based company to amass a juicy Bitcoin stash with minimal dilution to common shareholders.
Ahead of the Asset Entities-Strive union's official closure, accredited investors will have the chance to barter Bitcoin for shares in the upgraded company, which is set to carry on the Strive name. Strive believes this exchange will be tax-exempt under Section 351 of the U.S. tax code, claiming it's the first time such an offer has ever been extended.
Theθopsis: With Strive set to make its public debut through a reverse merger rather than an IPO, the company predicts it will enjoy a greater level of freedom to snag capital. This flexibility includes beefing up a shelf registration statement submitted with the Securities and Exchange Commission, permitting the firm to scoop up to $1 billion in both equity and debt offerings.
Cash Money: Bitcoin EditionAsset Entities' share price ground through the roof on Wednesday, soaring a jaw-dropping 450% by quitting time, according to the musings shared by Yahoo Finance. The company finds itself boasting a market worth of around $49 million at present.
Strive hinted at future mergers on the horizon, eyeing overcapitalized firms to pick up cash on the cheap and lay their hands on leverage to gather even more Bitcoin than they'd be able to otherwise.
Strive 's Bitcoin acquisition scheme eerily echoes that of Strategy, previously known as MicroStrategy. The company boasts around 555,500 Bitcoin in its hoard, which is worth a whopping $52 billion, thanks to its unique method of issuing billions in convertible debt and selling clusters of common shares.
At Strategy World 2025, an event hosted by Strategy, Strive CEO Matt Cole heaped praise on Michael Saylor, Strategy's co-founder and executive chairman, for his "innovative" approach.
"It ain't just about grabbing Bitcoin and diluting shareholders," Cole declared during his Wednesday presentation. "You need to do this shindig in a way that boosts shareholder value."
Strive, which made its grand entrance on the scene in 2022, manages $2 billion in assets. In November, before Donald Trump claimed the White House, the organization vowed to entwine Bitcoin into the everyday finances of Americans and migrate its operations to Texas.
Strive also put the screws to GameStop to take the plunge and embrace Bitcoin as a treasury reserve asset before the video game retailer green-lit the ploy. Although GameStop hasn't splurged on Bitcoin as of yet, Cole candidly admitted to Decrypt that the Leavenworth, Kansas-based company is still pursuing the idea.
"It's absolutely baffling just how early we are in this movement," Cole said of companies adopting Bitcoin as a treasury asset. "Less than 1% of public companies have hopped on the Bitcoin train."
Tweaked by James Rubin
Quote of the Day
"Merging with Asset Entities gives us the chance to stash a bunch of Bitcoin and grow it quicker than a 9th grader in a free candy store." - Matt Cole, CEO and Co-founder, Strive Asset Management
Burning Question
Will other companies be swayed by Strive's Bitcoin strategy and decide to adopt the digital currency as a treasury reserve asset? Let's hear what you think in the comments below.
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References
- Medium
- Business Wire
- CoinTelegraph
- Fortune
- Forbes
- Strive Asset Management, in its unique approach to treasury reserve management, has chosen to amass a significant Bitcoin stash, an strategy eerily similar to that of MicroStrategy.
- The merger with tech firm Asset Entities is set to provide Strive with the resources and leverage to accumulate even more Bitcoin than it would be able to otherwise, eyeing overcapitalized firms for potential acquisitions.
- With its innovative method of issuing billions in convertible debt and selling clusters of common shares, MicroStrategy currently holds around 555,500 Bitcoin, worth approximately $52 billion.
- Due to its perceived utility as a hedge against inflation, Bitcoin may become a popular choice for other companies as a treasury reserve asset, following in the footsteps of Strive and MicroStrategy.
