PANews reported on May 27 that Strive Asset Management, a firm founded by Vivek Ramaswamy, has completed a $750 million private equity investment (PIPE) round, with a subscription price of $1.35 per share, representing a 121% premium over the previous closing price of ASST, and has the opportunity to expand to $1.5 billion through warrants. The funds will be used to acquire undervalued biotech companies, buy into Mt. Gox Bitcoin claims, and discount structured BTC credit products to build its Bitcoin treasury. CEO Matt Cole stated that Strive will enhance BTC returns with an 'Alpha-oriented' strategy and will elaborate on this plan at the 'Bitcoin and Business Conference' in Las Vegas.
It was reported last week that Strive plans to acquire Mt.Gox claims to obtain 75,000 BTC to build a Bitcoin treasury.
