ASST plunges 6.98% in pre-market as Bitcoin strategy volatility and market challenges weigh

Strive Asset Management (ASST) fell 6.9762% in pre-market trading on December 24, 2025, as investor sentiment soured amid ongoing volatility in its Bitcoin-focused strategy and broader market challenges.

Recent developments highlight mounting pressure on the firm. Strive announced a $500 million stock offering to fund Bitcoin purchases, even as its portfolio declined nearly 18% year-to-date. The firm also raised preferred share dividend rates amid plunging Bitcoin treasury company valuations. Management’s push to maintain exposure to Bitcoin, despite a sub-$100,000 price for the cryptocurrency, has drawn scrutiny. Meanwhile, Strive’s efforts to challenge MSCI’s proposal to exclude major BTC holders from indexes have yet to yield tangible support.

The selloff reflects broader struggles within the Bitcoin treasury sector. Multiple firms face reduced demand for their strategies as crypto prices remain subdued. Strive’s aggressive capital-raising moves contrast with declining investor confidence, underscored by a sharp drop in its share price over the past month. Analysts note the firm’s dual focus on Bitcoin accumulation and capital preservation remains unproven in a bearish market environment.

Investor sentiment is likely to remain cautious unless Strive demonstrates a clear path to profitability and sustainable growth. The firm's strategic decisions, including the recent capital raise, will be closely watched for signals of recovery or further distress in the Bitcoin treasury space.