Strive Asset Management, the investment firm launched in 2022 by entrepreneur and former U.S. presidential candidate Vivek Ramaswamy, is boldly pivoting into Bitcoin.
In an announcement on May 7, the company revealed it will go public via a reverse merger with Nasdaq-listed social media marketing firm Asset Entities—an ambitious move aimed at building a massive Bitcoin treasury.
Once the merger is complete, the combined entity will retain the Strive name and leverage its new public market access to raise and deploy capital into Bitcoin. The firm plans to issue roughly $1 billion in equity and debt to build a “Bitcoin war chest,” adopting a long-term investment strategy it believes will outperform the digital asset.
Strive also unveiled plans to allow Bitcoin holders to exchange their BTC for public stock in a tax-advantaged manner. This structure, the firm says, is designed to attract direct contributions of Bitcoin in return for equity stakes. As of early May, Strive manages around $2 billion in assets across several funds.
This strategic shift aligns with a growing trend among public companies moving Bitcoin onto their balance sheets. This strategy has gained momentum since the SEC approved spot Bitcoin ETFs earlier this year. Companies like Strategy, one of the early adopters of the corporate Bitcoin treasury model, have seen their share prices soar by over 350% in 2024 alone.
Strive’s evolution into a Bitcoin treasury reflects a broader belief that Bitcoin can hedge against rising fiscal deficits, currency debasement, and geopolitical instability. A 2024 report by Fidelity Digital Assets highlighted these factors as key motivations behind corporate Bitcoin allocations.
Strive also filed for regulatory approval in January for a new exchange-traded fund (ETF) focused on Bitcoin-backed corporate bonds. The fund is named the Strive Bitcoin Bond ETF.
As of May 7, data from Bitcointreasuries.net shows that corporate treasuries collectively hold about $74 billion worth of Bitcoin, a figure Strive aims to expand.
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