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Strive Asset Management, founded by entrepreneur and former presidential candidate Vivek Ramaswamy, has announced plans to transform into a Bitcoin treasury company. This strategic shift involves going public through a reverse merger with Asset Entities, a Nasdaq-listed social media marketing firm. The combined entity will operate under the Strive brand, leveraging its public equity status to accumulate Bitcoin (BTC) as a primary treasury asset.
As part of this initiative, Strive intends to issue approximately $1 billion in equity and debt to fund Bitcoin purchases. The firm also plans to offer a mechanism allowing Bitcoin holders to contribute BTC in exchange for public stock through a structure designed to be tax-free. As of May 7, Strive manages around $2 billion in net assets across various funds.
This move aligns with a broader trend of companies adopting Bitcoin as a treasury reserve asset. Corporate Bitcoin treasuries have gained popularity, especially following the approval of Bitcoin exchange-traded funds (ETFs) on Wall Street. Companies like MicroStrategy, now rebranded as Strategy, have seen significant stock price increases due to their Bitcoin holdings.
Strive’s transformation into a Bitcoin treasury company reflects a growing interest in digital assets as a hedge against fiscal deficits, currency debasement, and geopolitical risks. Analysts suggest that incorporating Bitcoin into corporate treasuries can offer long-term investment benefits.
