Strive Asset Management Announces $500 Million Stock Offering to Acquire More Bitcoin
Strive Asset Management (NASDAQ: ASST) has announced a preferred stock offering of $500 million, with the proceeds intended for acquiring additional Bitcoin. Alongside this, Strive launched a separate $500 million SATA At-The-Market (ATM) program to raise capital for general corporate purposes, including further Bitcoin purchases.
Currently, Strive holds 7,525 Bitcoin, estimated at about $695.93 million, ranking it 14th among corporate Bitcoin holders according to BitcoinTreasuries.
The net proceeds from these offerings are designated for investment in Bitcoin and Bitcoin-related products, supporting working capital, and other corporate purposes. This includes plans to acquire income-generating assets and to fund acquisitions of businesses and technologies.
Notably, Strive had previously outlined a Bitcoin-buying trajectory beginning with an initial purchase linked to a May merger plan. Later disclosures detailed plans to acquire 75,000 BTC from Mt. Gox bankruptcy claims, valued at over $8 billion.
Strive's Bitcoin investment strategy has been compared to that of Michael Saylor, focusing on increasing the Bitcoin holdings on a per-share basis.
Additionally, Strive has advocated for MSCI to reconsider excluding digital asset treasury firms from its global indexes, submitting a detailed seven-page letter to the MSCI chairman.
Regarding stock performance, ASST shares were reported to have risen 3.57% to $1.12 before trending toward $1.02, within a 52-week range of $0.34 to $13.42.
