Vivek Ramaswamy’s Strive Makes Bold Move as First NASDAQ-Listed Asset Manager with a Bitcoin Treasury

Strive Asset Management has agreed to merge with Asset Entities Inc., setting the stage for a bold transition into a Bitcoin-focused treasury company. According to a May 7 statement, the deal will see the combined firm operate under the Strive name and continue trading on NASDAQ. The firm said the move would create the first publicly listed asset manager fully aligned with the Bitcoin Standard. Strive CFO Ben Pham stated:

By leveraging its internal capabilities in fixed income and derivatives, the firm expects to strengthen its balance sheet and expand its ability to acquire Bitcoin. Through this approach, Strive targets up to $1 billion in capital via equity and debt offerings to accelerate its accumulation strategy. Meanwhile, the reverse merger structure is designed to give the combined entity immediate access to capital markets, eliminating many regulatory delays typical of public offerings.

This flexibility is expected to support the firm’s rapid growth plans and align shareholder interests with the Bitcoin treasury thesis. Strive’s strategic pivot follows a broader trend of corporate moves into Bitcoin. Over the past months, several firms, including banking giant Cantor Fitzgerald in partnership with Tether, have shown massive interest in acquiring the top crypto.

Around the same time, Japan’s Metaplanet announced plans to open a US subsidiary focused on Bitcoin accumulation. These firms are part of a growing group aiming to challenge Strategy (formerly MicroStrategy), the software company that pioneered the public Bitcoin Treasury model. According to analysts at Bernstein, this wave of institutional interest is far from over. The firm projects $330 billion in corporate inflows into Bitcoin over the next five years, with Strategy expected to lead the charge while smaller players like Strive work to replicate its success.