Strive Closes $750 Million Investment Round to Launch ‘Alpha-Generating’ Bitcoin Strategy

Strive, the investment firm founded by entrepreneur and political figure Vivek Ramaswamy, has closed a $750 million private investment in public equity (PIPE) round to kickstart a Bitcoin-focused strategy that blends traditional asset acquisition with crypto accumulation. The funding lays the foundation for a potential $1.5 billion raise if attached warrants are exercised.

Priced at $1.35 per share, the PIPE represents a 121 percent premium over Asset Entities’ (ASST) previous closing price. The deal structure includes no debt, allowing Strive to preserve future borrowing capacity and maximize equity-driven returns.

Strive’s strategy diverges from the typical corporate Bitcoin treasury model by focusing on what it calls “alpha-generating” approaches to digital asset accumulation. This includes buying distressed Bitcoin claims, particularly from Mt. Gox proceedings, as well as acquiring undervalued biotech companies and structured Bitcoin credit instruments at discounted rates.

CEO Matt Cole framed the strategy as requiring a fundamentally new valuation approach.

“We’re not simply buying Bitcoin. We’re creating a diversified playbook that leverages dislocation in both traditional and digital markets to accumulate assets below intrinsic value,” Cole said.

The investment round will finance Strive’s first round of Bitcoin acquisitions, with a portion earmarked for the firm’s bid to purchase claims related to Mt. Gox, the defunct crypto exchange currently undergoing a complex creditor repayment process. Strive has partnered with 117 Partners LLC to access these claims, which are estimated at over $7.9 billion in potential value.

The deal also positions Strive to go public via its ongoing merger with Asset Entities, further signaling its intention to build a publicly traded, crypto-integrated financial firm.

The capital raise has garnered attention not only for its size and premium valuation but also for its unorthodox deployment strategy. Strive’s planned purchases of biotech firms—typically outside the crypto investment landscape—suggest a long-term vision to blend high-growth sectors under a single investment umbrella.

Cantor Fitzgerald & Co. served as the exclusive financial advisor and placement agent for the PIPE, with legal representation from Davis Polk, DLA Piper, and Bevilacqua PLLC.

Strive’s next public step will come at the upcoming Bitcoin for Corporations Symposium in Las Vegas, where Cole is expected to present the firm’s thesis on corporate digital asset accumulation and differentiated crypto strategies.

While other companies like MicroStrategy and Trump Media have made headlines for direct Bitcoin buys, Strive’s entry into the space comes with a broader ambition: to outperform Bitcoin’s own returns by accumulating it through discounted and distressed avenues.

Editorial Note: This news article has been written with assistance from AI. Edited & fact-checked by the Editorial Team.

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