Strive Closes $750M Deal to Advance Bitcoin Strategy Targeting Alpha Returns

Strive Secures $750M PIPE to Drive Advanced Bitcoin Treasury Strategy with Potential $1.5B Upside

Strive has closed a $750 million private investment in public equity (PIPE) round, with an option to raise an additional $750 million if warrants are exercised, setting the stage for a total $1.5 billion capital influx.

The financing will bankroll Strive’s initial bitcoin (BTC $110,312.58) purchases as the company embarks on building a bitcoin treasury through alpha-focused strategies designed to outperform the market.

CEO Matt Cole highlighted that Strive’s approach redefines valuation models by focusing on undervalued biotech assets, distressed bitcoin claims—particularly Mt. Gox claims in partnership with 117 Partners LLC—and discounted segments of structured bitcoin credit.

Strive recently revealed plans to target $7.9 billion in Mt. Gox bitcoin claims to accelerate treasury growth, alongside an anticipated public listing via merger with Asset Entities (ASST).

PIPE shares were priced at $1.35 each, a 121% premium over ASST’s previous closing price, with no debt issued to preserve future financial leverage.

Matt Cole is scheduled to unveil the firm’s strategy at the Bitcoin for Corporations Symposium in Las Vegas.

Cantor Fitzgerald & Co. acted as exclusive advisor and placement agent, with legal support from Davis Polk, DLA Piper, and Bevilacqua PLLC.