Strategy Playbook: Strive Asset Management Secures $750M to Purchase Bitcoin

After disclosing its treasury ambitions, Strive Asset Management has taken the first real steps to acquire Bitcoin (BTC). The company has announced a $750 million private investment to power its Bitcoin accumulation plans. Rather than blindly stacking Bitcoin, Strive Asset Management will leverage alpha-generating strategies in its Treasury operations.

Strive Asset Management Raises $750M For Bitcoin Purchases

Vivek Ramaswamy’s Strive Asset Management and Asset Entities have unveiled plans to become a leading force in Bitcoin accumulation. According to an X post, the company has announced a $750 million raise via private investment from a coalition of undisclosed VC firms.

While details are under wraps, Strive Asset Management says the capital injection will support the company’s “first wave of Bitcoin accumulation.”

Moreover, the tweet from Strive reveals additional plans to raise as much as $1.5 billion from private investment via warrant exercise.

Although the move may result in a dilution of stock, Strive Asset Management has its eyes on increasing its BTC holdings. The company says it will incorporate alpha-generating strategies in its Bitcoin accumulation plan rather than just adding BTC to the balance sheet.

“The transaction will raise up to $1.5 billion in total proceeds upon exercise of warrants,  which would make Strive Asset Management one the largest Bitcoin treasury companies, and the only one accumulating Bitcoin with alpha-generating strategies,” read a statement.

Strive previously identified a market opportunity involving over 75,000 BTC through the acquisition of distressed Bitcoin claims, such as those related to Mt. Gox.

A Surge in Institutional Interest in BTC

Before this private investment round, Strive had already begun fueling institutional interest in Bitcoin. The company proposed a merger with Asset Entities to establish the first publicly traded asset management firm focused on a Bitcoin treasury strategy.

Back in February, Strive’s CEO Matt Cole urged GameStop to convert its $5 billion cash holdings to Bitcoin. At the time, Cole noted that the move will redefine GameStop from “meme stock to market leader.”

However, the company will have to contend with MicroStrategy’s aggressive buying spree in an attempt to become the top Bitcoin treasury company. Recently, Strategy purchased 4,020 BTC for $427 million, extending its weekly Bitcoin purchasing streak. Following that acquisition, Strategy’s BTC holdings expanded to 580,250.

Meanwhile, Strive Asset Management faces stiff competition from other players, including Metaplanet and The Blockchain Group. Recently, Trump Media has secured $2.5B to expand its Bitcoin holdings as institutional interest for the largest cryptocurrency reaches a fervent pitch.