Strive launches $500m stock sale to expand Bitcoin treasury, emulate Saylor

Source: Cryptonews Original Title: Strive launches $500m stock sale to expand Bitcoin treasury, emulate Saylor Original Link: https://crypto.news/strive-launches-500m-stock-sale-to-expand-bitcoin-treasury-emulate-saylor/ Strive Asset Management has announced a $500 million stock sales program intended to fund additional Bitcoin purchases, according to a company statement released recently.

The publicly traded asset manager stated the net proceeds from the offering will be allocated to “general corporate purposes,” including the acquisition of Bitcoin (BTC) and Bitcoin-related products, as well as working capital. The firm also disclosed plans to purchase “income-generating assets” to expand business operations, though specific asset classes were not identified.

Strive asset management and Bitcoin

Strive was co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy. The firm pivoted to a Bitcoin treasury strategy earlier this year through a public reverse merger, reorienting its balance sheet toward long-term Bitcoin accumulation. The company currently holds 7,525 BTC on its balance sheet, ranking as the 14th-largest corporate holder of Bitcoin, according to company disclosures.

The strategy resembles the model developed by Michael Saylor and Strategy, which has pursued Bitcoin acquisition through debt and equity financing. Strive’s Bitcoin holdings expanded in September when the firm agreed to acquire Semler Scientific, a transaction that positioned the combined entity among the largest corporate Bitcoin holders globally.

Strive shares rose following the announcement. The stock has more than doubled since the beginning of the year, according to market data.

The firm has become involved in discussions regarding the treatment of digital asset treasury companies in major stock indices. Earlier this month, Strive CEO Matt Cole publicly commented on MSCI’s ongoing consultations with institutional investors over whether to exclude digital asset treasury companies that hold more than 50% of their balance sheet in cryptocurrencies. Cole stated that excluding such firms could distort capital allocation and limit investor choice, according to public statements.

MSCI’s review could affect index funds and exchange-traded funds that track its benchmarks, potentially influencing billions of dollars in passive capital flows.

Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to oversee more than $2 billion in assets under management, according to company data. Unlike spot Bitcoin ETFs, which offer direct price exposure, Bitcoin treasury companies typically employ balance sheet leverage, equity issuance, and acquisition strategies that can amplify both gains and losses.

If fully deployed toward Bitcoin purchases, the $500 million stock sales program could substantially increase Strive’s BTC holdings, according to analysts.