Strive closed a $750 million private investment in public equity (PIPE) round, with an option to increase the financing by another $750 million if the warrants are exercised.
This capital will fund Strive’s initial wave of bitcoin BTC buys as the firm builds its bitcoin treasury. The Vivek Ramaswamy-founded firm will deploy alpha-generating strategies aimed at outperforming bitcoin.
CEO Matt Cole emphasized that Strive’s approach demands a new valuation framework. This strategy is driven by acquisitions of undervalued biotech firms, distressed bitcoin claims—including Mt. Gox claims via a partnership with 117 Partners LLC—and discounted tranches of structured bitcoin credit.
Last week, the firm said it is eyeing $7.9 billion worth of Mt. Gox bitcoin claims as it looks to build its bitcoin treasury and go public via a merger with Asset Entities (ASST).
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Read more:Strive Eyes $7.9B Distressed Mt. Gox Bitcoin Claims to Accumulate Discounted BTC
The PIPE was priced at $1.35 per share, a 121% premium over ASST’s pre-announcement closing price, and carries no debt financing to preserve future leverage capacity.
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Cole is set to present these strategies at the bitcoin for Corporations Symposium in Las Vegas.
Cantor Fitzgerald & Co. served as exclusive financial advisor and placement agent, with legal counsel provided by Davis Polk, DLA Piper, and Bevilacqua PLLC.
Read more:Strive Asset Management to Go Public, Launch Bitcoin Treasury Strategy With Merger
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Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
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💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!
🔗 You Might Also Be Interested In
Bitcoin Slips Below $104K, Cryptos Slide as U.S.-China Tariff Tensions Flare Up
Classover Taps $500M Convertible Note Deal to Boost Solana Treasury Strategy
CFTC’s Goldsmith Romero says commissioner exodus ‘not a great situation’
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!