Vivek Ramaswamy’s Strive Takes a Bold Step as the First NASDAQ-Listed Asset Manager to Hold a Bitcoin Treasury

Strive Asset Management has reached an agreement to merge with Asset Entities Inc., marking a pivotal shift towards a Bitcoin-centric treasury model.

As per a statement made on May 7, the new entity will operate under the Strive brand and will continue its activities on NASDAQ.

This merger will establish the first publicly traded asset management firm that is fully committed to the principles of the Bitcoin Standard.

Strive’s CFO, Ben Pham, remarked:

“Strive plans to exploit every available method, including innovative financial tactics not usually employed by other Bitcoin treasury entities, to enhance its investment in Bitcoin. We regard Bitcoin as the benchmark and will assess all corporate capital utilization based on its performance relative to Bitcoin.”

One approach highlighted by the company includes offering shares in exchange for Bitcoin, structured in a way that avoids any tax implications for BTC owners.

Strive is also looking to purchase undervalued or overcapitalized businesses to secure cash at more favorable terms.

Utilizing its strengths in fixed income and derivatives, the firm anticipates improving its financial position and increasing its capacity to acquire Bitcoin.

Through this strategy, Strive is targeting up to $1 billion in capital through equity and debt financing to boost its accumulation initiatives.

Simultaneously, the reverse merger structure is aimed at providing the newly formed company with immediate access to capital markets, thus bypassing many of the regulatory hurdles typically associated with public offerings. This adaptability should aid the firm in its aggressive growth objectives while aligning the interests of shareholders with the Bitcoin treasury concept.

Strive’s strategic shift aligns with a broader trend of companies venturing into Bitcoin.

In recent months, numerous firms, such as the prominent banking institution Cantor Fitzgerald in collaboration with Tether, have exhibited significant interest in acquiring Bitcoin.

Similarly, Metaplanet from Japan has announced its plans to establish a subsidiary in the US dedicated to Bitcoin accumulation.

These companies represent an expanding group aiming to compete with Strategy (formerly MicroStrategy), a software firm that was at the forefront of the public Bitcoin Treasury model.

Analysts from Bernstein indicate that this surge in institutional interest is just beginning. The firm predicts that corporate inflows into Bitcoin could reach $330 billion over the next five years, with Strategy leading the way while emerging companies like Strive seek to emulate its achievements.