Strive Asset Management Merges with Asset Entities to Create Publicly Traded Bitcoin Treasury Company

Strive Asset Management has announced a definitive merger agreement with Asset Entities, a move that will transform the latter into a publicly traded Bitcoin Treasury Company. The combined entity will operate under the Strive brand and continue to be listed on NASDAQ. This strategic pivot positions Strive Asset Management at the forefront of corporate Bitcoin treasury strategies, leveraging its institutional investment expertise to maximize Bitcoin exposure per share.

The merger is structured to provide significant capital-raising advantages. The combined company will have immediate access to an effective shelf registration statement, which is planned to be expanded to $1 billion. This allows for rapid execution of Bitcoin accumulation strategies through both equity and debt offerings. The innovative use of Section 351 tax-free exchanges will enable Bitcoin holders to contribute cryptocurrency directly for equity without triggering capital gains taxes, potentially accelerating Bitcoin accumulation without the typical cash outflows associated with open market purchases.

Matt Cole, the former $70 billion fixed income portfolio manager, will lead the company as CEO and Chairman of the Board. His extensive experience in structured securities will be crucial in implementing sophisticated treasury management techniques. The leadership team also includes Ben Pham as CFO, Arshia Sarkhani as CMO, and Logan Beirne as CLO, all of whom will serve on the board of directors. Additionally, respected Bitcoin leaders Ben Werkman, Jeff Walton, and Avik Roy will join as independent board directors.

Strive Asset Management, known for its advocacy of capitalism, meritocracy, and innovation, has quickly amassed approximately $2 billion in assets under management since its founding in 2022. The company has been instrumental in rolling back ESG mandates in boardrooms across America and now aims to apply its winning playbook to lead the transformation of corporate adoption of Bitcoin treasuries. Strive Enterprises, Inc., co-founded by Vivek Ramaswamy, will remain a privately held company and continue to expand its wealth management business.

The merger represents a strategic pivot for Asset Entities, transitioning from digital marketing services to becoming the first publicly-traded asset management Bitcoin treasury company. This unique positioning combines institutional investment expertise with cryptocurrency treasury management, setting a new standard in the market. The combined company plans to use Bitcoin as the benchmark for capital deployment, ensuring that any alternative investment must outperform simply holding Bitcoin to justify capital allocation. This approach aligns with the Bitcoin maximalist investment thesis while adding institutional sophistication.

The multi-faceted accumulation strategy includes tax-free Bitcoin-for-equity exchanges, acquiring cash at discounts through mergers with overcapitalized companies, and leveraging fixed income and derivatives expertise to accumulate Bitcoin while hedging downside risk. Strive's existing brand and advocacy for capitalism provide credibility for executing this strategy, and the company plans to advocate for all publicly traded companies in its funds to adopt Bitcoin treasury strategies, potentially accelerating institutional Bitcoin adoption more broadly.

For investors seeking Bitcoin exposure through equity markets, this merger creates a unique vehicle with potential advantages over direct holdings. However, execution risks and dilution from future financings must be carefully weighed. The combined company will focus on maximizing Bitcoin exposure per share and seek to outperform Bitcoin over the long run, maximizing value for common equity shareholders.