Business
Strive Asset Management and Asset Entities (Nasdaq: ASST) Announce $750M Private Investment to Fund First Wave of Bitcoin Accumulation
Transaction to raise up to $1.5 billion in total proceeds upon exercise of warrants, which would make Strive Asset Management one of the largest Bitcoin
About this update from Strive, Inc.
[{"type":"text","content":"Transaction to raise up to $1.5 billion in total proceeds upon exercise of warrants, which would make Strive Asset Management one of the largest Bitcoin treasury companies.The combined company will continue to have no outstanding debt for borrowed money after this financing.Strive CEO Matt Cole to discuss the company’s proposed alpha-generating Bitcoin strategies during his 11:54 AM PT keynote on May 27, 2025 at the Bitcoin for Corporations Symposium in Las Vegas, Nevada. DALLAS, May 27, 2025 (GLOBE NEWSWIRE) -- Asset Entities (Nasdaq: ASST) and Strive Asset Management today announced the signing of a $750 million private investment in public equity (PIPE), with an additional $750 million in potential financing upon the exercise of warrants, which could increase total potential proceeds to $1.5 billion. Upon closing of the transactions, the proceeds are expected to support the company’s first wave of Bitcoin acquisitions, with the goal of establishing Strive Asset Management as the first Bitcoin treasury company focused on long-term Bitcoin outperformance through the implementation of alpha-generating strategies, in addition to the company’s plans to implement known beta strategies used by incumbent Bitcoin treasury corporations. A select group of leading institutional investors and Strive’s management team, including CEO Matt Cole, participated in the financing, which is expected to close concurrently with the transaction under the merger agreement between Strive Asset Management and Asset Entities. “Most Bitcoin treasury companies are valued based on multiples to their Bitcoin holdings, which makes sense because their strategies are tied to leveraged beta to Bitcoin,” said Matt Cole, CEO of Strive. “By contrast, our alpha-generating Bitcoin accumulation strategies are designed to drive sustained outperformance relative to Bitcoin itself, which requires a new valuation framework.” Strive Asset Management’s first wave of alpha-generating Bitcoin accumulation strategies include: Unlocking discounted cash through acquisitions of biotech companies trading below their net cash position, which Strive views as a multi-billion dollar opportunity, and one where Strive believes it has a distinctive competitive advantage due to its founding and management team.Acquiring distressed Bitcoin claims—such as Mt. Gox claims—at discounts to Bitc...