Strive Asset Management to Become a Bitcoin Treasury Company by Merging with Asset Entities

In a bold move aligning with the growing trend of corporate Bitcoin adoption, Strive Asset Management announced on May 7 that it will become a Bitcoin treasury company by merging with Asset Entities

Strive Asset Management, the investment firm founded by former presidential candidate Vivek Ramaswamy, is planning to go public and use the proceeds to accumulate Bitcoin, the company announced on May 7.

To become a publicly traded company, Strive will merge with Asset Entities, a Nasdaq-listed social media marketing firm, in a reverse merger. The combined company will operate as Strive and trade on the exchange.

The move comes amid a broader trend of U.S. companies integrating Bitcoin into their treasury strategies. So far, public companies hold over $74 billion in BTC, according to BitcoinTreasuries.net.

$1 Billion to Fund Bitcoin Accumulation

Upon closing the deal, Strive intends to raise approximately $1 billion in equity and debt to purchase Bitcoin, currently trading at around $97,384.

The company aims to create a Bitcoin “war chest” and implement a long-term investment strategy designed to outperform Bitcoin itself.

The firm also plans to introduce a tax-efficient structure allowing Bitcoin holders to contribute BTC in exchange for Strive’s public stock, potentially attracting crypto-native investors seeking exposure to equity markets.

Strive currently manages $2 billion in assets across multiple funds. In December 2024, it also filed to launch an ETF focused on convertible bonds issued by corporate Bitcoin holders like MicroStrategy.

Strive’s initiative aligns with broader trends in the cryptocurrency market, which has seen strong interest in Bitcoin ETFs and institutional investment products.

Trump Ally and Former Presidential Candidate Behind Strive

Ramaswamy, who founded Strive in 2022, is a multi-millionaire entrepreneur and the founder of several successful startups, including biotech firm Roivant Sciences, where he holds a majority stake.

After a brief run in the 2024 Republican presidential primary, Ramaswamy endorsed Trump, who is now set to become President-elect.

Strive’s public mission has been to help investors “harness the power of capitalism” and create products that align with his pro-free market, anti-woke investing philosophy, reports CoinTelegraph.