Strive Raises $750 Million to Fuel Bitcoin Treasury Purchases
Strive Asset Management announced a financial arrangement to raise $750 million primarily for Bitcoin purchases, with potential total funds of $1.5 billion through PIPE financing and warrant exercises. Strive aims to outperform traditional Bitcoin treasury companies by employing innovative accumulation strategies rather than conventional financing methods. The PIPE investment and warrants priced shares of Asset Entities (ASST) at $1.35, over 100% above the pre-announcement closing price. Strive's strategies include acquiring distressed Bitcoin claims and structured Bitcoin credit vehicles. The firm chose not to pursue debt financing to maintain leverage capacity. Shares of ASST fell nearly 23% to $8.07, despite a year-to-date increase of over 1,400%. Bitcoin's price rose approximately 0.6% to $109,710, nearing its recent all-time high of $111,814.
