Strive, the publicly traded asset manager co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy, has revealed a major plan to raise $500 million through a new stock sales program. The firm aims to use the funds to accelerate its Bitcoin treasury strategy, a model similar to the approach made famous by Michael Saylor’s Strategy.
According to the company’s announcement on Tuesday, Strive intends to allocate the net proceeds for general corporate purposes, which include acquiring Bitcoin, investing in Bitcoin-related products, and strengthening overall working capital. The firm also noted that part of the capital may be used to purchase “income-generating assets,” though details on these assets were not disclosed.
Strive Strengthens Its Position as a Major Bitcoin Holder
Strive currently holds 7,525 BTC, valued at roughly $694 million at today’s market price, making it the 14th-largest corporate Bitcoin holder. The company officially shifted to a Bitcoin treasury model in May following a public reverse merger. Later in September, Strive announced the acquisition of Semler Scientific, a strategic move that positioned the combined operation among the largest corporate BTC-holding entities.
Since launching its first ETF in August 2022, Strive Asset Management has expanded rapidly with over $2 billion in assets under management. The company’s momentum is also reflected in its stock performance. Strive shares (ASST) closed 3.6 percent higher at $1.02 on Tuesday, more than doubling in value in 2024, according to Google Finance.
Pushing for MSCI to Include Bitcoin Treasury Companies
Strive CEO Matt Cole recently urged MSCI to allow market participants to decide whether companies holding significant Bitcoin reserves should be included in passive investment indexes. This follows consultations by MSCI regarding whether Digital Asset Treasury companies (DATs), whose balance sheets contain over 50 percent crypto assets, should be excluded from index eligibility.
The appeal underscores growing debate within global finance circles about how digital-asset-heavy companies should be defined, categorized, and presented to institutional investors. Strive’s $500 million plan further signals its commitment to expanding Bitcoin exposure while influencing regulatory and index-related policy discussions.
With this move, Strive joins a growing list of public companies leveraging capital markets to accumulate Bitcoin, reinforcing the asset’s role in modern treasury strategies.