Strive Asset Management to Become First Publicly Traded Bitcoin-Focused Asset Manager

Strive Asset Management, co-founded by entrepreneur and former U.S. presidential candidate Vivek Ramaswamy, is set to make history as the first publicly traded asset management company built around a Bitcoin-focused treasury strategy. On May 7, 2025, Strive announced a definitive merger with Asset Entities Inc. (NASDAQ: ASST), a digital marketing and content delivery company. The merger, executed as a reverse takeover, will see the combined entity operate under the Strive brand and trade on NASDAQ. The primary objective of this newly formed entity is to maximize Bitcoin exposure per share, setting a new precedent in the asset management industry. This marks a significant step in institutional Bitcoin adoption and reflects growing confidence in Bitcoin as a viable long-term reserve asset. Bitcoin-for-Stock Strategy and Capital Accumulation Plan A central feature of Strive’s post-merger strategy is a “Bitcoin-for-stock” exchange, which will enable accredited investors to contribute Bitcoin to the firm in exchange for equity—executed under Section 351 of the U.S. tax code, allowing for tax-deferred transactions. Strive plans to raise up to $1 billion through this mechanism, all aimed at expanding its Bitcoin treasury. In addition to direct Bitcoin acquisition, the company plans to leverage its experience in fixed income and derivatives markets to manage risk and optimize returns. Another innovative component of the strategy includes identifying and acquiring overcapitalized public companies to access cash reserves at a discount, which can then be used to accumulate more Bitcoin. Leadership, Governance, and Ownership Post-Merger Matt Cole, current CEO of Strive, will serve as Chairman and CEO of the new publicly traded entity. Joining him will be Ben Pham as Chief Financial Officer, Arshia Sarkhani—former CEO of Asset Entities—as Chief Marketing Officer, and Logan Beirne as Chief Legal Officer. The board will also include well-known Bitcoin advocates such as Ben Werkman, Jeff Walton, and Avik Roy as independent directors. Strive Enterprises will hold a commanding 94.2% ownership of the combined company post-merger, with the remaining 5.8% retained by legacy shareholders of Asset Entities. The announcement has been met with strong interest across both traditional finance and crypto-native circles. Bitcoin’s price experienced a noticeable uptick following the news, as market participants interpreted the move as a validation of Bitcoin’s role in corporate treasury management. Strive’s transition into a publicly listed Bitcoin-centric asset manager signals a transformative moment in financial markets. It not only underscores the evolving narrative around Bitcoin as a strategic corporate asset but may also inspire other institutions to reconsider their capital allocation models in favor of crypto integration.