Asset Entities Stock Soars on Bitcoin Merger 🚀
Shares of Asset Entities (ASST) skyrocketed over 52% after-hours on Tuesday after shareholders approved a merger with Vivek Ramaswamy’s Strive Enterprises.
The deal aims to build a $1.5 billion Bitcoin treasury, positioning the new entity among the top 10 corporate Bitcoin holders worldwide. Once completed, the company will be renamed Strive, Inc. and continue trading under the ticker ASST.
Leadership and Market Impact 📊
Under the merger, Matt Cole, CEO of Strive Asset Management, will lead the combined firm. Arshia Sarkhani, CEO of Asset Entities, will take on the role of chief marketing officer and board member.
The merger adds to the surge in public companies acquiring Bitcoin, which has grown from fewer than 100 firms earlier this year to 186 and counting. While this trend has fueled Bitcoin’s rally to $124,450, it also raises concerns of a crowded treasury market.
Strive’s $1.5 Billion Bitcoin Plan 💰
Strive will use a reverse-merger structure, which is seen as more stable than speculative SPAC deals. The funding plan includes:
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$750 million from a Private Investment in Public Equity (PIPE).
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$750 million from warrant exercises tied to the PIPE.
If fully raised, the $1.5 billion would allow Strive to purchase around 13,450 BTC at current prices, ranking it among the world’s largest corporate Bitcoin holders.
Eyeing Mt. Gox Bitcoin Holdings 👀
Earlier this year, Strive revealed plans to acquire 75,000 Bitcoin tied to the collapsed exchange Mt. Gox. Buying at a discount could significantly improve its Bitcoin-per-share ratio, a metric increasingly important in the treasury sector.
However, this strategy still hinges on shareholder approval and regulatory clearance, including a green light from Nasdaq.
Bitcoin Treasuries Keep Growing 🌐
Public companies now hold a record 1 million BTC, or about 5.1% of Bitcoin’s circulating supply.
Leading the charge is Michael Saylor’s Strategy, which owns 638,460 BTC worth over $71 billion. Other major players include MARA Holdings with 52,477 BTC and XXI with 43,514 BTC.
Final Thoughts 🎯
The Asset Entities–Strive merger marks another milestone in the wave of corporate Bitcoin adoption. If the $1.5 billion raise succeeds, Strive will join the ranks of the largest Bitcoin treasuries — further cementing Bitcoin’s role in corporate finance.
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