Share this article
Strive Asset Management to Go Public, Launch Bitcoin Treasury Strategy With Merger
The combined company plans to stockpile Bitcoin and offer tax-free equity swaps to accredited holders.
Updated May 8, 2025, 1:00 p.m. Published May 7, 2025, 6:11 p.m.
What to know:
- Strive will merge with NASDAQ-listed Asset Entities to form a public Bitcoin Treasury Company.
- The combined firm plans to raise up to $1B to accumulate Bitcoin through equity and debt.
- Strive will offer stock-for-Bitcoin swaps using a tax-free Section 351 structure for accredited investors.
Shares of tech company Asset Entities (ASST) rose 194% on Wednesday after it announced that Strive Asset Management was merging with the NASDAQ-listed company to become a publicly traded Bitcoin Treasury Company.
The deal, structured as a reverse merger, will leave the combined company operating under the Strive name and listed on the NASDAQ. Strive plans to build a sizable bitcoin reserve using novel investment and financing strategies designed to limit shareholder dilution.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
One key strategy is a planned equity-for-bitcoin swap available to certain accredited investors, the companies stated in the press release. The exchange will use a tax provision known as Section 351, which allows appreciated assets to be contributed to a corporation tax-free in return for stock, subject to individual circumstances. The deal will not carry a premium to the company's transaction price, according to the announcement.
Strive CEO Matt Cole, formerly a $70 billion fixed income portfolio manager, said the company aims to outperform bitcoin by using it as a benchmark for capital deployment. Strategies will include merging with overcapitalized firms to access discounted cash, employing leverage, and deploying structured products to hedge risk.
The company plans to expand its capital raising capacity to $1 billion post-merger through an effective shelf registration, offering flexibility to fund bitcoin purchases via equity and debt sales.
Strive has grown quickly since launching in 2022, managing roughly $2 billion and gaining attention for its opposition to ESG mandates. The merger, according to the company, is a next step in pushing for bitcoin adoption across corporate treasuries, a goal it will also advocate for among companies held in its funds.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
USDC Issuer Circle Secures Abu Dhabi's ADGM License in Middle East Expansion
The license allows Circle to expand USDC payment and settlement tools across the United Arab Emirates.
What to know:
- Circle has obtained a Financial Services Permission license from Abu Dhabi Global Market, allowing it to operate as a Money Services Provider in the UAE.
- The stablecoin issuer has appointed Dr. Saeeda Jaffar, former manager at payments firm Visa.
- The approval comes as part of the UAE's emergence as a global hub for regulated digital assets, following similar licenses granted to Binance.
Top Stories
