$1.5B Bitcoin Treasury Company Formed as Asset Entities Approves Strive Merger

Asset Entities Shareholders Approve Strive Merger, Setting Stage for Bitcoin Treasury Push

Asset Entities Inc. (ASST) said its shareholders have approved the merger with Strive Enterprises, moving the deal closer to completion after Strive’s own approval earlier this month. The combined company will be renamed Strive Inc. and adopt a bitcoin-focused treasury strategy.

Strive, co-founded in 2022 by former presidential candidate Vivek Ramaswamy, will see its current head, Matt Cole, take over as chairman and CEO. Asset Entities CEO Arshia Sarkhani will transition to chief marketing officer and join the board.

The merger still requires Nasdaq listing clearance and other closing conditions. Strive expects to close a $750 million PIPE financing, with potential gross proceeds surpassing $1.5 billion if warrants are exercised. Cole said the firm’s debt-free model is designed to maximize bitcoin per share through a disciplined, long-term approach.

ASST stock surged 38% in mid-morning U.S. trading on the news.