The Striver Asset Management, founded by businessman and former president candidate Vivek Ramaswamy, has expressed plans to move to a Bitcoin treasury company.
According to In an announcement of May 7, Strive will go public through a reverse merger and plan to use the joint company stock to accumulate bitcoin (Btc).
The deal will see the effort to integrate into asset entities – a social media marketing company listed in Nasdaq. The combined creature will operate under the brand Striver and use access to public equity markets to supply Bitcoin purchases, the company said.
When the deal closes, strive plans to issue approximately $ 1 billion in equity and debt and use the proceeds to accumulate BTC. The asset manager is “planning to use all the available mechanisms to produce a Bitcoin War Breast (…) and develop a long -term investment approach designed to overcome Bitcoin,” he said.
Strive to plan to allow “Bitcoin holders to contribute Bitcoin in exchange for public stock through a structure intended to be tax-free,” it said. Until May 7, the company manages about $ 2 billion in net assets in various funds.
In December, work hard Filed to list a funds exchanged by the exchange (ETF) Investment in convertible bonds issued by microstrategy and other corporate bitcoin consumers.
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Corporate Bitcoin Treasury
Corporate Bitcoin Treasury has become popular from the approval of funds exchanged by the Bitcoin (ETF) exchange on Wall Street. Companies pioneering the Bitcoin consumer approach, such as the strategy saw their sharing prices of 350% in 2024.
Analysts say that adding bitcoin to corporate treasures can “potentially become an important fence against growing fiscal deficiencies, currency collapse, and geopolitical risks,” the asset manager Fidelity Digital Assets Says In a 2024 report.
Corporate Bitcoin Treasury collectively holds nearly $ 74 billion worth of BTC until May 7, According to in bitcointreasuries.net.
Connection of Trump
Ramaswamy, an inevitable ally of President-elect Donald Trump, established hard work in 2022. Its stated purpose is to help investors “use the power of capitalism,” according to the Striver’s website.
In 2023, Ramaswamy – who mainly gained his $ 1 billion net value from the startup of biotechnology that starts sciences – campaigned against Trump with the main President of the Republican. He eventually endorsed the president-nominated.
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