Stock of Asset Entities skyrockets by over 200% following Strive merger and Bitcoin announcement
Cryptocurrency Giants Merge: Asset Entities and Strive Asset Management to Form Bitcoin-Focused Public Company
The exciting union between Asset Entities and Strive Asset Management is set to reshape the cryptocurrency landscape. The newly formed entity aims to revolutionize Bitcoin exposure for shareholders via a versatile approach to Bitcoin accumulation and capital allocation.
New Venture under Strive Brand, NASDAQ Listing
The merged company will carry on the Strive brand and continue its NASDAQ listing, with a vision to maximize Bitcoin returns per share.
Aggressive Bitcoin Acquisition
The company has an ambitious plan to accumulate Bitcoin using multiple tactics:
- By introducing a groundbreaking offering that enables accredited investors to convert their Bitcoin for public company equity, tax-free under Section 351 of the U.S. tax code, drawing in potential Bitcoin reserves of up to $1 billion.
- Through strategically acquiring publicly traded firms with substantial cash assets, snatching discounted cash for Bitcoin purchases.
- By leveraging in-house fixed-income and derivatives expertise, the company will hedge risk while pushing forward with Bitcoin accumulation using cutting-edge financial engineering techniques.
Capital Allocation
In a move to set itself apart, the company intends to treat Bitcoin as its yardstick for capital deployment decisions. Any alternative investments must outperform Bitcoin to be worthwhile. The company is committed to aggressive Bitcoin purchasing with the aim of generating long-term value for shareholders.
The merger grants the company immediate access to an extended shelf registration statement, which it plans to expand to $1 billion to support Bitcoin purchasing through both equity and debt offerings, provided these offerings contribute positively to common equity.
Leadership and Expertise
Matt Cole, who managed $70 billion in fixed-income portfolios previously, is appointed as CEO. The company boasts a management team fortified with expertise in crypto, finance, and law, as stated in a company announcement.
Controversial Moves
Prosecutors' handling of the Samourai Wallet case has spurred backlash, owing to allegations of suppressed evidence.
[1] Investing.com[2] Business Wire[3] CoinDesk[4] Decrypt[5] The Block
- The new public company, anchored by the merger between Asset Entities and Strive Asset Management, will be Bitcoin-focused and aims to revamp the cryptocurrency scene, offering shareholders diverse avenues for Bitcoin accumulation and allocation.
- Maintaining the Strive brand and NASDAQ listing, the merged company endeavors to maximize Bitcoin returns for each share, adopting a multi-pronged strategy to purchase Bitcoin.
- The company aims to gather Bitcoin through three primary means: a novel offering for accredited investors to exchange Bitcoin for public company equity, strategic acquisitions of publicly traded companies with substantial cash assets, and leveraging in-house fixed-income and derivatives expertise for risk mitigation while increasing Bitcoin holdings.
- To stand out, the company pledges to leverage Bitcoin as the benchmark for capital allocation decisions, with any alternative investments expected to outperform Bitcoin for consideration. Capital will be allocated aggressively to generate long-term value for shareholders.
- Granting access to an extended shelf registration statement, the company intends to escalate this to a potential $1 billion, supporting Bitcoin purchasing through both equity and debt offerings if these offerings bolster common equity.
- Matt Cole, previously managing $70 billion in fixed-income portfolios, is appointed as CEO, heading a multidisciplinary management team composed of crypto, finance, and legal experts.
- The controversial handling of the Samourai Wallet case by prosecutors has stirred criticism, with claims of suppressed evidence, highlighting the complex interplay between finance, technology, and law in crypto investing.
