ASST-Strive Merger Creates Bitcoin Treasury Firm, Plans $1.5B BTC Buy

A significant consolidation is poised to reshape the landscape of publicly traded digital asset firms, following the overwhelming approval by Asset Entities Inc. (ASST) shareholders for a merger with Strive Enterprises. This strategic alliance aims to establish one of the world's preeminent publicly traded Bitcoin treasury businesses, a move that immediately propelled ASST shares upwards in post-market trading and signals an ambitious play for long-term value in the cryptocurrency sector. Upon the merger's completion, the combined entity will rebrand as Strive, Inc., while retaining the ASST ticker on Nasdaq. Leadership changes will see Matt Cole assume the roles of CEO and Chairman of the Board, with Arshia Sarkhani, currently Asset Entities' President and CEO, transitioning to Chief Marketing Officer. The newly formed company plans to raise as much as $1.5 billion to acquire Bitcoin assets, comprising $750 million in public equity (PIPE) financing and an additional $750 million from potential warrant exercises. This financial ambition underscores its commitment to aggressive capital deployment within the digital asset market, pending final approval, including Nasdaq's endorsement of the listing application. The strategic vision of the unified company centers on disciplined, long-term approaches designed to outperform Bitcoin itself over time and create perpetual shareholder value. A key innovative element of the merger is its structure as a reverse merger, which enables a groundbreaking tax-free Bitcoin-to-equity exchange under Section 351. This mechanism offers early Bitcoin investors an unprecedented opportunity to convert their digital asset gains into equity without immediate tax implications, providing a competitive advantage in capital acquisition and offering a new pathway for integrating digital wealth into traditional financial instruments.

Strategic Pursuit of Distressed Bitcoin Assets

Beyond conventional acquisition, Strive also plans to strategically target distressed Bitcoin claims to secure exposure at a discount. A notable focus for this strategy involves the approximately 75,000 BTC linked to the collapsed Mt. Gox exchange. These Bitcoin holdings, held by the now-defunct Japanese exchange's bankruptcy estate since its 2014 insolvency, represent a significant pool of assets that Strive aims to acquire at below-market prices. According to a recent SEC filing, this approach, supported by a collaboration with 117 Castell Advisory Group LLC, is intended to enhance Bitcoin per share and reinforce the company's long-term goal of outperforming Bitcoin. Strive, Inc. enters this merger with a notable track record, having launched its first exchange-traded fund (ETF) in 2022 and currently overseeing over $2 billion in assets under management. The company's co-founder, biotech billionaire and former presidential candidate Vivek Ramaswamy, is a leading contender for Ohio’s 2026 gubernatorial race, adding a layer of public prominence to the firm's profile. The company's zero-debt status is also cited as a competitive advantage, positioning it favorably against peers in the rapidly expanding digital asset sector.