Asset management company Strive completes $750 million private financing, plans to advance Bitcoin strategy

ChainCatcher news, according to CoinDesk, Strive Asset Management, founded by Vivek Ramaswamy, has completed a $750 million PIPE financing, with a subscription price of $1.35 per share, a premium of 121% over the previous closing price of ASST, and has the opportunity to expand to $1.5 billion through warrants. The funds will be used to acquire undervalued biotech companies, purchase low-priced Mt. Gox Bitcoin claims, and discounted structured BTC credit products to build its Bitcoin treasury.

CEO Matt Cole stated that Strive will enhance BTC returns with an "Alpha-oriented" strategy and will elaborate on the plan at the "Bitcoin and Business Conference" in Las Vegas.