Mentioned:
There’s a new company going public on the Nasdaq that is obsessed with Bitcoin accumulation. And it’s backed by Vivek Ramaswamy.
What’s happening:
- Strive Asset Management has entered into a reverse merger agreement with Asset Entities (NASDAQ: ASST) to become a publicly listed company
Why it matters:
- Strive Asset Management is aiming to become the first ever asset management company with a Bitcoin treasury strategy to go public on a major stock exchange in the United States of America
Going deeper:
- Following the successful completion of the reverse merger between Strive Asset Management and Asset Entities, Strive Asset Management has publicly stated they aim to raise $1B USD through both equity and debt financings for the sole purpose of acquiring Bitcoin to hold directly as an asset
- Republican political candidate Vivek Ramaswamy is the co-founder of Strive Enterprises which is the parent company of Strive Asset Management and will continue to operate as a private company
- Leveraging the traditional public markets for Bitcoin accumulation continues to be a major theme on Wall Street, with Cantor Fitzgerald, SoftBank and Tether just recently making waves with their hyper ambitious plan to pour billions of dollars into Bitcoin purchases through a new SPAC deal
The intrigue:
- Strive Asset Management has also publicly stated that they are exploring a new way for investors to be able to directly contribute Bitcoin in exchange for equity in the newly formed publicly traded company in a way that is both compliant and entirely tax free
