Vivek Ramaswamy's Strive to raise $500M to buy Bitcoin
Strive, co-founded by Vivek Ramaswamy, launched a $500 million stock offering to acquire more Bitcoin and related products.Summary
Strive, the asset manager co-founded by Vivek Ramaswamy in 2022, announced a $500 million preferred stock offering to raise capital primarily for acquiring more Bitcoin and Bitcoin-related products, as well as for working capital and other income-generating assets. This move follows the strategy of other public companies accumulating Bitcoin on their balance sheets. Strive is currently the 14th largest corporate holder of Bitcoin, possessing 7,525 BTC. The company pivoted to a Bitcoin treasury structure via a reverse merger in May and recently agreed to acquire Semler Scientific. Following the announcement, Strive shares (ASST) rose 3.6%. Additionally, Strive CEO Matt Cole recently called on MSCI to reconsider potentially excluding Bitcoin treasury companies from their passive investment indices.
(Source：Cointelegraph)