Merger positions new firm among top corporate Bitcoin holders
Shares of Asset Entities (ASST) surged after-hours on Tuesday, rising over 50% following shareholder approval of its merger with Strive Enterprises. The deal aims to establish a $1.5 billion Bitcoin treasury, placing the combined company among the largest corporate holders of the cryptocurrency.
Asset Entities confirmed that a “strong majority” of shareholders voted in favor of the merger, which will see the firm rebranded as Strive, Inc. and continue trading under the ASST ticker. The new entity plans to raise $1.5 billion to purchase Bitcoin, equivalent to 13,450 BTC at current market prices.
The merger also brings leadership changes. Matt Cole, CEO of Strive Asset Management, will head the combined company, while Arshia Sarkhani, CEO of Asset Entities, will serve as chief marketing officer and board member.
Shares of Asset Entities closed Tuesday up 17.8% at $6.28, before rallying 52% after-hours to $9.55 on news of the deal.
Strategic Bitcoin push
Industry analysts note that the merger follows a growing trend of public firms using mergers, equity offerings, and convertible debt to acquire Bitcoin. “The $1.5 billion raise signals a strong commitment to Bitcoin as a treasury reserve, pushing Strive into the top 10 corporate holders,” one market strategist explained.
Strive will fund the treasury with $750 million from a PIPE (Private Investment in Public Equity) and another $750 million through warrant exercises. This reverse-merger approach is considered less speculative than SPACs, reducing risks tied to dilution and volatile timelines.
Broader Bitcoin adoption
The combined firm joins a list of 186 public companies holding Bitcoin, up from fewer than 100 at the start of 2025. Collectively, corporate treasuries now control 1 million BTC, or 5.1% of circulating supply.
“The corporate Bitcoin race is intensifying, and this merger is another milestone in institutional adoption,” said one analyst.
With Bitcoin trading above $111,500, Asset Entities’ pivot marks a dramatic shift from its marketing roots to the expanding world of corporate crypto accumulation.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.