Vivek Ramaswamy's Strive Asset Management Secures $1.5B to Launch Bitcoin Alpha Strategy

Strive Asset Management, the investment firm co-founded by entrepreneur and political figure Vivek Ramaswamy, has announced a major $750 million private investment in public equity (PIPE) deal with Asset Entities (NASDAQ: ASST).

Entrepreneurs Vivek Ramaswamy and Matt Cole's investment firm Strive Asset Management has announced a major PIPE (private investment in public equity) deal.

Asset Entities (NASDAQ:ASTT) said it has agreed to sell 550 million shares to institutional investors at $1.35 per share. The company also granted the investors options to purchase up to an additional 400 million shares at $1.35 per share.

This tranche of financing, which is subject to regulatory approval, could bring total proceeds of up to $1.5 billion.

The firm said it intends to use a portion of the net proceeds to fund Strive’s first wave of Bitcoin (CRYPTO: BTC) acquisitions.

This move positions Strive as a next-generation Bitcoin treasury company. While most such firms are valued based on the amount of BTC they hold, Strive’s approach is designed to outperform Bitcoin itself, explained Cole.

"We're designing our accumulation strategy to beat Bitcoin’s returns through targeted, alpha-driven investments,” he added.

This includes acquiring undervalued biotech firms trading below their net cash. Strive sees this sector as having "massive untapped value."

The firm also plans to buy distressed Bitcoin claims—such as those from Mt. Gox—at a significant discount, in partnership with 117 Partners LLC. This market is estimated to involve over 75,000 BTC.

According to Bernstein, this strategy could lead to large-cap U.S. equities having 2.5% of their portfolios allocated to Bitcoin by 2028, translating to a $330 billion opportunity.

Additionally, Strive aims to capitalize on structured Bitcoin credit vehicles, focusing on the deeply discounted bottom tranches that offer high return potential with controlled risk.

The PIPE deal at $1.35 per share represents a 121% premium to Asset Entities’ closing stock price on March 27.

Unlike many similar transactions, Strive chose not to use debt financing, preserving maximum balance sheet flexibility to optimize future equity returns.

"We are applying the same principles of patient, net-present-value-driven investing to Bitcoin that we use in public equities and private equity, but with a modified framework suitable for the unique properties of the digital asset class," said Ramaswamy.

"We are not simply buying and holding Bitcoin. Our objective is to outperform Bitcoin by generating alpha through active investment strategies."

Cole will be presenting Strive’s Bitcoin strategy at the Bitcoin for Corporations conference in Las Vegas today at 11:54 AM PT. The firm has also released a detailed investor presentation and transaction summary on its website.