Strive completes merger, raises $750 million for bitcoin strategy

Strive Inc. announced the completion of its merger between Asset Entities Inc. and Strive Enterprises Inc. The combined company will continue trading on Nasdaq under the ticker ASST.

The company raised approximately $750 million in equity financing in connection with the merger closing. An additional $750 million may become available if warrants issued with the financing are exercised, bringing potential total proceeds to $1.5 billion.

Strive describes itself as a publicly traded asset management company focused on bitcoin treasury operations. The company stated it aims to increase bitcoin per share to outperform bitcoin over time.

Strive Asset Management LLC, a wholly owned subsidiary and SEC-registered investment adviser, manages over $2 billion in assets. The subsidiary launched its first exchange-traded fund in August 2022.

The announcement was made through a press release issued by the company.

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