Strive secures $750M PIPE funding to launch Bitcoin treasury

Strive Asset Management has secured $750 million in PIPE funding to launch its Bitcoin treasury strategy, with an option to raise an additional $750 million through warrants. According to a May 27 announcement , the financing was arranged in partnership with Asset Entities as part of an ongoing merger deal. The proposed merger, first announced in early May 2025, would create the first publicly traded Bitcoin treasury asset manager focused on long-term outperformance. Strive doubles down on Bitcoin strategy The combined entity will operate under the Strive brand and remain listed on Nasdaq. The proceeds are expected to support Strive’s first wave of Bitcoin acquisitions and accelerate its efforts to establish itself as a new kind of publicly traded Bitcoin treasury asset manager. The PIPE deal was priced at $1.35 per share, representing a 121% premium over ASST’s closing price prior to the merger announcement. The same price applies to the warrants tied to the financing. No debt was raised in the transaction, with Strive opting to preserve future leverage capacity to optimise equity returns. CEO Matt Cole said the company’s strategy focuses on outperforming Bitcoin rather than simply tracking its price. To achieve this, Strive plans to deploy capital across a range of alpha-generating strategies, including acquisitions of undervalued biotech companies, purchases of distressed Bitcoin claims such as those linked to Mt. Gox, and investments in discounted tranches of structured Bitcoin credit vehicles. Strive has already signalled interest in acquiring as much as $7.9 billion worth of Mt. Gox-related Bitcoin claims through its strategic partnership with 117 Partners LLC. These claims represent approximately 75,000 BTC from the long-running bankruptcy proceedings of the defunct exchange and are being positioned as a cost-effective means of gaining discounted Bitcoin exposure. In addition to the PIPE, Strive recently unveiled a unique offering that allows accredited investors to exchange Bitcoin for equity in the public company. The transaction could potentially qualify as tax-free under Section 351 of the US tax code. The firm also intends to use fixed-income and derivatives strategies to hedge risk and enhance returns. Strive gains immediate access to public capital markets and a $1 billion shelf registration through its merger with Asset Entities. The merger also strengthens its retail and influencer outreach capabilities, enabling broader investor participation. Founded by Vivek Ramaswamy in 2022, Strive initially gained attention for its anti-ESG investment stance and activist strategies. Matt Cole took over as CEO in 2023 following Ramaswamy’s departure and broadened the firm’s focus to include Bitcoin as a long-term capital allocation benchmark. Bitcoin continues to draw institutional interest What initially began as cautious exposure via exchange-traded products and indirect investment vehicles has evolved into a more assertive strategy, with public companies directly acquiring Bitcoin for their treasuries. Strive Asset Management is among several firms leading this trend. In May 2025 alone, multiple companies announced significant Bitcoin acquisitions. These include firms like Strategy, Metaplanet , KindlyMD, and H100 Group, which are anchoring corporate balance sheets around Bitcoin as the asset trades near $108,759, close to its recent all-time high. According to recent reports, institutional flows into Bitcoin are forecasted to reach over $120 billion by the end of 2025, with that figure expected to rise to $300 billion by 2026. The post Strive secures $750M PIPE funding to launch Bitcoin treasury appeared first on Invezz

Source: Invezz