Asset Manager Strive Launches $500M Stock Sales to Purchase More Bitcoin
Vivek Ramaswamy’s Strive Asset Management has introduced a $500 million most popular inventory providing, with proceeds earmarked for Bitcoin acquisition.
Strive already holds 7,525 BTC, per BitcoinTreasuries data, value $695.93 million, and stands 14th amongst high company Bitcoin holders.
With the latest stock sales announcement, Strive intends to use the web proceeds “for normal company functions,” together with “the acquisition of Bitcoin and Bitcoin-related merchandise and for working capital.”
Further, the asset supervisor additionally plans to buy unspecified “income-generating belongings,” fund acquisitions of companies and applied sciences.
Strive’s Pivot to BTC Treasury Strategy
Strive first introduced its intention to purchase Bitcoin in May with a merger. It later revealed plans to purchase 75,000 BTC, then valued at over $8 billion, from claims associated to the defunct Mt. Gox change chapter.
Strive’s latest Bitcoin shopping for spree displays Michael Saylor’s playbook, representing one other public firm centered on rising Bitcoin per share.
The firm has additionally urged index provider MSCI to rethink its plan to exclude digital asset treasury (DAT) corporations from its international indexes.
Strive submitted a seven-page letter to the MSCI chairman, arguing that the proposal dangers shutting passive traders out of key progress markets.
Strive Stocks Up 3.57% – Recent Move Triggers Investor Enthusiasm
The firm’s inventory [NASDAQ: ASST] is trending up by 3.57% on Tuesday, surging up to $1.12 adopted by an obvious Downtrend to $1.02.
Per the corporate’s inventory knowledge, over the previous 52 weeks, it has traded between a high of $13.42 and a low of $0.34. This narrative hints at an opportunistic market, the place swings might recommend potential purchaser alternatives.
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