Asset Entities has received shareholder approval to merge with Strive Enterprises, transforming itself into a dedicated Bitcoin treasury firm to be renamed Strive, Inc., though it will keep trading under the ASST ticker. The move signals a major strategic shift from social media marketing to cryptocurrency asset management.
The reverse-merger structure is expected to generate $1.5 billion in funding, split between a $750 million private placement and $750 million from warrant exercises. If completed, Strive could purchase up to 13,450 BTC at current prices, establishing itself as a significant corporate bitcoin holder.
Matt Cole, CEO of Strive Asset Management, will take the helm as Strive Inc.’s new CEO and Chairman. Shares of ASST surged nearly 18% on Tuesday before jumping another 52% in after-hours trading as news spread.
The deal, first announced in May, still requires Nasdaq approval and closing conditions. If completed, it could create one of the largest Bitcoin treasury companies in the public market.
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