Vivek Ramaswamy's Strive to raise $500M to buy Bitcoin

cointelegraphPublished on 2025-12-10Last updated on 2025-12-10

Abstract

Strive Asset Management, co-founded by Vivek Ramaswamy, has announced a $500 million stock sales program to raise funds for purchasing Bitcoin and Bitcoin-related products. The firm, currently the 14th largest corporate holder of Bitcoin with 7,525 BTC worth approximately $694 million, intends to use the proceeds for general corporate purposes, including expanding its BTC treasury and acquiring income-generating assets. This strategy mirrors the approach pioneered by Michael Saylor’s MicroStrategy. Following the announcement, Strive’s shares (ASST) rose 3.6% to $1.02, more than doubling since the start of the year. The company also recently urged index provider MSCI to reconsider excluding Bitcoin-heavy firms from passive investment products.

Publicly traded asset manager and Bitcoin treasury company Strive has announced a $500 million stock sales program to raise funds for additional BTC purchases.

The firm, which was co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy, stated on Tuesday that it intends to use the net proceeds from the sale for “general corporate purposes, including, among other things, the acquisition of Bitcoin and Bitcoin-related products and for working capital.”

It also intends to purchase “income-generating assets” to grow the company’s business, but did not specify which.

The move represents another significant public company using capital markets to accumulate Bitcoin (BTC), a strategy pioneered by Michael Saylor’s Strategy.

Strive is the 14th largest holder of Bitcoin

Strive is the fourteenth-largest corporate holder of Bitcoin, with 7,525 BTC worth approximately $694 million at current market prices.

The firm announced its pivot to a Bitcoin treasury through a public reverse merger in May. In September, Strive agreed to acquire Semler Scientific in a move that positioned the combined entity as one of the largest corporate holders of BTC.

Related: Strive calls on MSCI to rethink its ‘unworkable’ Bitcoin blacklist

Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to manage over $2 billion in assets.

Strive shares (ASST) gained 3.6% on Tuesday to end the day trading at $1.02, according to Google Finance. Its stock has more than doubled since the beginning of the year.

Strive shares gain following the announcement. Source: Google News

Stive urges MSCI to include Bitcoin treasuries

Earlier this month, Strive CEO Matt Cole urged stock market index MSCI to “let the market decide” whether they want to include Bitcoin-holding companies in their passive investments.

The move follows MSCI consultations with the investment community about whether to exclude Bitcoin and other digital asset treasury companies (DATs) that have a balance sheet with more than 50% crypto assets.

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