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Vivek Ramaswamy’s Strive Asset Management Merges with Asset Entities, ASST Stock Up 400% on $1 Billion Bitcoin Buy Plan
By: defi news|2025/05/08 05:00:05
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Vivek Ramaswamy's Strive Asset Management is set to go public through a merger with Asset Entities (NASDAQ: ASST), forming the first publicly traded asset management Bitcoin treasury company. The firm plans to raise $1 billion to purchase Bitcoin, with an initial commitment to buy $1 billion worth. This announcement has led to a dramatic increase in ASST stock price, which surged over 400% amid multiple trading halts on May 7, 2025. The stock has become increasingly difficult to short, with limited shares available for borrowing, suggesting a potential short squeeze. Strive Asset Management aims to leverage its $2 billion capital to establish a significant presence in the Bitcoin investment space.This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
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