Strive has just clinched a hefty $750 million private investment in public equity (PIPE) deal, poised to supercharge its ambitious bitcoin strategy. This financial injection will fuel Strive’s initial bitcoin buys as the firm looks to bolster its bitcoin treasury. The firm, founded by Vivek Ramaswamy, is setting its sights on generating alpha—strategies that aim to outperform the standard bitcoin market returns.
A New Framework for Bitcoin Investment
Matt Cole, Strive’s CEO, underscored the need for a fresh valuation approach to navigate this volatile landscape. “Our strategy isn’t just about buying bitcoin,” Cole explained. “It’s about seizing opportunities through undervalued biotech acquisitions, distressed bitcoin claims—including those linked to the infamous Mt. Gox fiasco through our collaboration with 117 Partners LLC—and discounted structured bitcoin credit.”
The Mt. Gox claims are particularly intriguing. Strive is eyeing $7.9 billion worth of these claims, a move that could significantly bolster their bitcoin holdings. This isn’t just about picking up discounted BTC; it’s about capitalizing on a market quirk that many investors shy away from. Strive’s planned merger with Asset Entities (ASST) will further this mission, with the PIPE priced at $1.35 per share—a striking 121% premium over ASST’s pre-announcement closing price. And here’s the kicker: there’s no debt financing attached, maintaining Strive’s leverage capacity for future ventures.
The Road Ahead: Going Public and Beyond
Strive’s plans extend beyond mere treasury building. The firm aims to go public via its merger with ASST, a move that could shake up the crypto market’s dynamics. Cole is set to present these strategies at the Bitcoin for Corporations Symposium in Las Vegas, a key event that could attract significant industry attention. This follows a pattern of institutional adoption, which we detailed in Strategy’s $84B Bitcoin Expansion Plan Backed by Wall Street Analysts.
“The crypto market is at a crossroads,” noted crypto analyst Jenna Liu. “With entities like Strive pushing the envelope, we might witness a shift in how traditional firms interact with digital assets.”
Cantor Fitzgerald & Co. played a pivotal role as the exclusive financial advisor and placement agent for the deal, with legal guidance from heavyweights like Davis Polk, DLA Piper, and Bevilacqua PLLC. These partnerships underscore the seriousness of Strive’s intentions and the broader market’s growing acceptance of crypto-centric strategies.
Historical Context and Market Trends
Strive’s current moves are set against a backdrop of increasing interest in bitcoin from institutional players. The crypto landscape has been evolving rapidly, with new financial products and strategies emerging almost daily. Strive’s focus on distressed assets and unique partnerships highlights a trend where traditional and digital finance worlds converge in unexpected ways. For a deeper dive into this trend, see Metaplanet Registers U.S. Treasury Arm to Grow Its Bitcoin Reserve Strategy.
Yet, questions linger. Can Strive’s approach deliver the promised alpha in an unpredictable market? And what does this mean for smaller investors who follow in the footsteps of such institutional giants? As the market watches Strive’s next steps, these questions loom large, potentially reshaping the narrative around bitcoin investment strategies.
In the coming months, as Strive navigates its public merger and continues to build its bitcoin arsenal, the crypto community will be watching closely. Will this be a game-changer, or just another chapter in bitcoin’s tumultuous story? Only time will tell.
Source
This article is based on: Strive Closes $750M Investment Deal to Power ‘Alpha-Generating’ Bitcoin Strategy
Further Reading
Deepen your understanding with these related articles:
- Metaplanet to open US arm, plans to raise $250M for Bitcoin strategy
- Metaplanet Issues $25M Bonds to Buy More Bitcoin
- Strategy Raising Another $21B to Buy Bitcoin, Posts Large Q1 Loss on BTC Price Decline
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
