Strive Asset Management Changes Focus Towards Bitcoin Treasury Strategy: Strive Asset Management will become a Bitcoin treasury firm. The company, co-founded by Vivek Ramaswamy, will now create long-term Bitcoin exposure.
It will leverage cutting-edge tools to increase value for its shareholders. Strive has assets under management of $2 billion and has earned itself the reputation of offering financial freedom through proxy voting.
However, the firm will merge with Asset Entities, a publicly traded tech company listed on NASDAQ. Strive will retain its name and remain public and will be led by CEO Matt Cole. It will unveil the deal today at the Strategy World.
The firm is looking to swap Bitcoin for stock in a deal intended to qualify under the tax-free treatment provided for in Section 351 of the U.S. tax law. It is looking to raise as much as $1 billion in this manner. strive is also looking to acquire cash-flush publicly listed companies. This move will enable it to acquire Bitcoin at below-market prices. It is anticipated that the actions will raise capital without diluting shareholders.
The company will leverage its fixed income and derivatives capabilities to unlock leverage and hedge risk. This will enable quicker Bitcoin accumulation. Strive will also launch registered debt and equity offerings under a current shelf registration. This will provide it with the capability to raise capital on short notice.
Strive boosts Bitcoin push with asset deal
Strive asserts its approach represents the next era in corporate Bitcoin adoption. It will leverage its influence to push its portfolio companies to embrace Bitcoin treasuries. Asset Entities will further bolster Strive’s voice in the education and social media sectors.
Upon the consummation of the deal, Strive Enterprises will have approximately 94% ownership of the publicly traded firm. However, asset Entities shareholders will retain 6%. New board members with Bitcoin expertise will come aboard, along with finance, law, and marketing veterans from the firm’s leadership team.
Strive launched in 2022 and grew rapidly by questioning ESG policies. It now focuses its efforts on digital assets. It wishes to surpass Bitcoin itself, using Bitcoin as its barometer. Its strategies have the goal of expanding holdings while protecting shareholder value.
Nonetheless, this mission is supported by the merger with Asset Entities. It is expected to close imminently, conditionally. Lawyers have been appointed. Investors may view the entire presentation from the company online today.
