Strive Asset Management, founded by entrepreneur and former presidential candidate Vivek Ramaswamy, announced plans to become a Bitcoin treasury company. Through a reverse merger, Strive will go public and utilize the combined company's stock to acquire Bitcoin. The merger with Asset Entities, a Nasdaq-listed social media marketing firm, will result in the new entity operating under the Strive brand. By accessing public equity markets, Strive aims to finance Bitcoin purchases. After finalizing the deal, Strive intends to raise around $1 billion through equity and debt issuance to accumulate BTC. The company plans to employ various strategies to build a substantial Bitcoin reserve and implement a long-term investment strategy to outperform Bitcoin. Additionally, Strive will enable Bitcoin holders to exchange their holdings for public stock in a tax-efficient manner. With approximately $2 billion in assets under management, Strive is venturing into the Bitcoin market by offering an ETF investing in convertible bonds issued by corporate Bitcoin buyers. Corporate Bitcoin treasuries, valued at around $74 billion, have gained popularity as a hedge against fiscal deficits, currency devaluation, and geopolitical risks. Read more AI-generated news on: https://app.chaingpt.org/news

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