Strive Asset Management (NASDAQ: ASST) has launched a $500 million stock sales program aimed at funding additional Bitcoin purchases, expanding its cryptocurrency treasury, and supporting broader corporate needs, the company said in a recent statement.
The publicly traded asset manager said net proceeds from the offering will be used for “general corporate purposes,” including the acquisition of Bitcoin and Bitcoin-related products, alongside working capital and potential investments in income-generating assets. The firm did not specify which asset classes it plans to target for these additional investments.
Strive’s Bitcoin Treasury Strategy and Growing Corporate Holdings
Strive was co-founded in 2022 by American entrepreneur and political figure Vivek Ramaswamy and shifted to a Bitcoin treasury strategy earlier this year through a public reverse merger.
The company currently holds 7,525 Bitcoin on its balance sheet, making it the world’s 14th-largest corporate Bitcoin holder according to company disclosures.
Its strategy mirrors the approach popularized by Michael Saylor’s Strategy, which uses equity and debt financing to build large Bitcoin reserves.
Strive’s Bitcoin position grew significantly in September following its agreement to acquire Semler Scientific, a deal that pushed the combined entity further up the corporate Bitcoin holder rankings.
Following the latest announcement, Strive shares rose, with the stock now more than doubling since the start of the year, based on market data.
Crypto Treasury Firms Face MSCI Index Review
The firm is also engaged in ongoing industry discussions over whether digital asset treasury companies should be excluded from major stock indices.
Earlier this month, Strive CEO Matt Cole criticized MSCI’s review of whether to remove companies holding more than 50% of their balance sheets in cryptocurrencies, arguing such exclusions could distort capital allocation and restrict investor choice.
MSCI’s decision could impact index funds and ETFs tracking its benchmarks, potentially affecting billions of dollars in passive investment flows. Since launching its first ETF in 2022, Strive has grown assets under management to more than $2 billion.
Analysts say that if the full $500 million is deployed into Bitcoin, Strive’s BTC holdings could increase substantially.