Key Takeaways
- Asset Entities and Strive Asset Management are merging to establish a public Bitcoin treasury company.
- The new entity will allow Bitcoin holders to exchange assets for public stock tax-free.
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Asset Entities, a technology firm specializing in social media marketing and content delivery across platforms, announced today it has entered into a definitive merger agreement with Strive Asset Management, backed by Vivek Ramaswamy, to create a public Bitcoin treasury Company.
The combined entity, operating under the Strive brand and retaining its Nasdaq listing, will focus on maximizing Bitcoin exposure per share and aims to outperform Bitcoin over the long term.
Structured as a reverse merger, the transaction is expected to provide the new entity with immediate access to an effective shelf registration statement, allowing it to begin raising capital promptly after closing.
The company plans to raise up to $1 billion in capital through equity and debt offerings following the merger.
As per the announcement, proceeds will be used to accumulate Bitcoin on a strategic, accretive basis, positioning the firm alongside a growing cohort of US public companies integrating Bitcoin into their balance sheets.
“We are thrilled to be joining forces with Strive Asset Management to help pioneer the future of corporate Bitcoin treasury strategies,” said Sarkhani, President and CEO of Asset Entities. “Our strength in building and activating online communities across Discord and other platforms uniquely positions us to drive education, engagement, and adoption of Bitcoin-centric financial models.”
Matt Cole, a former $70 billion fixed income portfolio manager, will lead the executive team alongside CFO Ben Pham, CMO Arshia Sarkhani, and CLO Logan Beirne. Strive also plans to appoint prominent Bitcoin advocates Ben Werkman, Jeff Walton, and Avik Roy to the board.
The merger remains subject to regulatory approvals and customary closing conditions. A closing date has not yet been announced.
The move follows an expanding trend among institutional and corporate entities allocating capital to Bitcoin amid shifting macroeconomic conditions, growing regulatory clarity, and increasing demand for digital assets in the US market.
Last month, Cantor Fitzgerald, in partnership with Tether and SoftBank, debuted Twenty One, a Bitcoin-native company, with a goal to amass over 42,000 BTC. Under the leadership of Jack Mallers, the company plans to develop Bitcoin-native financial products and services.
Strive Asset Management offers investors exposure to Bitcoin through its exchange-traded product, such as the Strive Bitcoin Bond ETF. The ETF allocates at least 80% of its assets to Bitcoin bonds and derivative instruments such as swaps and options.
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