Key Takeaways
- Strive Asset Management aims to raise $500 million to acquire more Bitcoin and conduct share buybacks.
- The firm is advancing an aggressive Bitcoin accumulation strategy in response to rising institutional interest in crypto.
Strive Asset Management, the firm co-founded by Vivek Ramaswamy, plans to raise up to $500 million through an ATM preferred stock offering, using the proceeds to acquire more Bitcoin and Bitcoin-related products.
The company will also use the funds to support general corporate purposes such as working capital, share repurchases, and debt repayment.
The investment firm is pursuing an aggressive Bitcoin accumulation strategy as part of its capital deployment plan. The fundraising effort represents one of the largest announced commitments by an asset management company to acquire digital assets.
Strive has been increasing its Bitcoin holdings as institutional interest in crypto assets continues to grow among traditional financial firms. The company currently holds approximately 7,525 Bitcoin worth $693 million at current market prices.
Source: https://cryptobriefing.com/bitcoin-accumulation-strategy-strive-500-m/
