Strive, a publicly traded asset manager and corporate Bitcoin holder, has unveiled a new $500 million stock sales program aimed at significantly expanding its digital asset holdings.
The company said the capital raised will support additional Bitcoin acquisitions as part of its ongoing shift toward becoming one of the largest Bitcoin-focused firms in the United States.
The announcement marks the latest example of a publicly listed corporation turning to the markets to increase its Bitcoin exposure, a strategy that has grown more popular following the high-profile moves of companies such as Michael Saylor’s Strategy.
Strive Plans to Use Funds for Bitcoin and Corporate Growth
In its filing and public statement, Strive explained that the proceeds from the planned stock offering will be used for “general corporate purposes, including, among other things, the acquisition of Bitcoin and Bitcoin-related products and for working capital.”
The company also signaled its intention to add “income-generating assets” to its balance sheet, though it did not detail what types of assets it may pursue.
The move aligns with Strive’s broader strategy shift in recent months as it positions itself as a Bitcoin treasury and asset-driven Business.
A Rapid Rise Among Corporate Bitcoin Holders
Strive has quickly become a major player in the corporate Bitcoin landscape.
With 7,525 BTC currently held, the firm ranks as the 14th-largest corporate holder of Bitcoin.
Those holdings are valued at roughly $694 million based on prevailing market prices.
The company’s transition accelerated after its public reverse merger earlier this year, which formalized its pivot toward a heavier focus on Bitcoin.
In September, Strive deepened its commitment by reaching an agreement to acquire Semler Scientific, a deal that effectively consolidated the companies’ combined Bitcoin reserves and strengthened Strive’s standing among publicly traded Bitcoin treasuries.
Asset Management Division Continues to Expand
Beyond its treasury strategy, Strive has been broadening its asset management presence.
Since debuting its first exchange-traded fund in August 2022, the firm’s assets under management have grown to more than $2 billion.
This growth has coincided with increased market attention, particularly from investors drawn to companies that back their operations with sizable Bitcoin reserves.
Shares Advance as Company Urges Index Providers to Adapt
Strive’s stock (ASST) climbed 3.6% on Tuesday, closing at $1.02.
The shares have more than doubled since the beginning of the year, reflecting heightened investor confidence in its Bitcoin-driven strategy.
Earlier this month, CEO Matt Cole publicly pushed global index provider MSCI to reconsider policies that could exclude companies with heavy allocations to Bitcoin and other digital assets.
He argued that index providers should “let the market decide” how to treat firms with large digital asset treasuries rather than imposing restrictions.
The discussion comes amid wider consultations between MSCI and institutional investors on whether companies holding more than 50% of their balance sheets in Crypto assets should be included or excluded from passive investment benchmarks.