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Sujha Sundararajan
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Vivek Ramaswamy’s Strive Asset Management has announced a $500 million preferred stock offering, with proceeds earmarked for Bitcoin acquisition.
Strive already holds 7,525 BTC, per BitcoinTreasuries data, worth $695.93 million, and stands 14th among top corporate Bitcoin holders.
With the latest stock sales announcement, Strive intends to use the net proceeds “for general corporate purposes,” including “the acquisition of Bitcoin and Bitcoin-related products and for working capital.”
Further, the asset manager also plans to purchase unspecified “income-generating assets,” fund acquisitions of businesses and technologies.
Strive’s Pivot to BTC Treasury Strategy
Strive first announced its intention to purchase Bitcoin in May with a merger. It later revealed plans to acquire 75,000 BTC, then valued at over $8 billion, from claims related to the defunct Mt. Gox exchange bankruptcy.
Strive’s recent Bitcoin buying spree reflects Michael Saylor’s playbook, representing another public company focused on increasing Bitcoin per share.
The company has also urged index provider MSCI to rethink its plan to exclude digital asset treasury (DAT) firms from its global indexes.
Strive submitted a seven-page letter to the MSCI chairman, arguing that the proposal risks shutting passive investors out of key growth markets.
Strive Stocks Up 3.57% – Recent Move Triggers Investor Enthusiasm
The company’s stock [NASDAQ: ASST] is trending up by 3.57% on Tuesday, surging up to $1.12 followed by an apparent Downtrend to $1.02.
Per the company’s stock data, over the past 52 weeks, it has traded between a high of $13.42 and a low of $0.34. This narrative hints at an opportunistic market, where swings could suggest potential buyer opportunities.