Strive Asset Manager to become Bitcoin treasury company
Strive Asset Management plans to transition into a Bitcoin treasury company, announcing a reverse merger with Asset Entities, a Nasdaq-listed social media marketing firm. The combined entity will operate under the Strive brand and aims to use public equity markets to finance Bitcoin purchases. Strive intends to issue approximately $1 billion in equity and debt to accumulate Bitcoin. The company plans to allow Bitcoin holders to exchange their Bitcoin for public stock in a tax-free structure. As of May 7, Strive manages about $2 billion in net assets. Corporate Bitcoin treasuries have gained popularity, with a collective holding of roughly $74 billion in BTC. Analysts suggest that adding Bitcoin to corporate treasuries may serve as a hedge against fiscal deficits and geopolitical risks. Ramaswamy, who founded Strive in 2022, has connections to Donald Trump and previously campaigned against him in the Republican primary before endorsing him.
