Bitcoin Treasury Company Strive Merges with Asset Entities for $1.5B 🚀💰

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Oh, what a day to be alive! Shares in the marketing firm Asset Entities (ASST) soared 52% after-hours on Tuesday, because why not? Their shareholders, bless their little hearts, approved a merger with Vivek Ramaswamy’s Strive Enterprises to create what can only be described as a Bitcoin treasury company. 🎉

Asset Entities, in a statement dripping with enthusiasm, mentioned that a “strong majority” of shareholders voted for this grand union, with plans to raise a cool $1.5 billion to buy Bitcoin (BTC). Yes, you read that right-$1.5 billion! The new company will be called Strive, Inc., but don’t worry, they’ll keep the ASST ticker because consistency is key. 🕵️‍♂️

Asset Entities shares closed trading on Tuesday up 17.8% at $6.28 and then, like a kid on a sugar rush, rallied over 52% after-hours to $9.55 on the merger news. Who needs sleep when you can trade stocks, right?

Matt Cole, the CEO of Strive Enterprises’ subsidiary Strive Asset Management, will lead the combined company, while Asset Entities CEO and President Arshia Sarkhani will serve as chief marketing officer and board member. As for Ramaswamy, Strive’s co-founder, his role in the newly merged company remains a mystery, much like the ending of “Inception.” 🤔

The new firm joins the ranks of 186 public companies that have reported large-scale Bitcoin buys, a number that has quadrupled since the start of the year. This has led to whispers of an oversaturated market, but who listens to whispers these days? 🙈

Strive Tries Reverse-Merger for $1.5 Billion Bitcoin Buys

The trend of public crypto-buying companies has been like a shot of espresso to Bitcoin’s price, pushing it to a dizzying $124,450. Companies are tapping into every financial trick in the book-equity, convertible debt, perpetual stock, and even Special Purpose Acquisition mergers-to fund their Bitcoin dreams. 🌈

Strive, however, chose the path less traveled: a reverse-merger structure. This method is considered safer than the fast-paced SPACs because it relies less on speculative capital raises, dilution, and uncertain deal timelines. In other words, it’s like choosing the scenic route instead of the highway during rush hour. 🚗💨

Strive plans to fund its $1.5 billion Bitcoin purchases with $750 million from a Private Investment in Public Equity (PIPE), plus another $750 million that could come from the exercise of warrants issued in the PIPE. If all goes according to plan, the company will be able to buy 13,450 Bitcoin at current market prices, placing them among the top 10 largest corporate Bitcoin holders. 💪

The merger’s closing is contingent upon certain conditions, including clearance of Strive’s listing application by The Nasdaq Stock Market LLC. But hey, when has a little paperwork ever stopped a good Bitcoin deal? 📝

Strive Had Its Eyes on Mt. Gox Bitcoin

When the merger was announced in May, Strive revealed its ambitious plan to acquire 75,000 Bitcoin from claims tied to the defunct crypto exchange Mt. Gox. The idea is to buy the cryptocurrency at a discount, which could boost its Bitcoin-per-share ratio-a metric that’s becoming increasingly important in the Bitcoin treasury space. 📊

However, a successful shareholder vote is needed to pursue the Mt. Gox claims. Fingers crossed, toes curled, and a prayer to the Bitcoin gods wouldn’t hurt either. 🙏

Strive has accumulated $2 billion in assets since its launch in 2022 by Anson Frericks and Ramaswamy, a biotech entrepreneur who ran for president last year and is now eyeing the governor’s office in Ohio. Ambition, thy name is Ramaswamy. 🎓,

Asset Entities, a social media marketing firm, had no prior involvement in Bitcoin or the crypto industry before this merger. But hey, when opportunity knocks, you answer the door, even if you’re wearing pajamas. 🧦

Corporate Bitcoin Adoption Hits Milestone

Public companies now hold a combined 1 million Bitcoin, accounting for 5.1% of the Bitcoin supply currently in circulation. Michael Saylor’s Strategy continues to dominate the Bitcoin accumulation race with 638,460 BTC worth $71.2 billion, while MARA Holdings and XXI round out the top three with 52,477 BTC and 43,514 BTC, respectively. It’s a Bitcoin party, and everyone’s invited! 🎉

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2025-09-10 04:25