Asset Entities Shareholders Approve Merger with Strive to Form Bitcoin Treasury

Highlights:

• Shares of Asset Entities jumped sharply following shareholder approval of its merger with Strive Enterprises.
• The merger aims to create a major publicly listed Bitcoin treasury company.
• Post-merger, Matt Cole becomes CEO, and Arshia Sarkhani transitions to Chief Marketing Officer.

On Tuesday, Asset Entities Inc. (ASST) experienced a strong after-hours surge following shareholder approval of its merger with Strive Enterprises. The merger will create one of the world’s largest publicly traded Bitcoin treasury companies and aims to raise up to $1.5 billion to purchase Bitcoin assets.

Following the completion of the merger, the company will rebrand as Strive, Inc., while continuing to trade on Nasdaq under the ASST ticker. Matt Cole will assume the roles of Chief Executive Officer and Chairman of the Board, and Arshia Sarkhani, currently President and CEO of Asset Entities, will take on the position of Chief Marketing Officer.

Asset Entities – $ASST – shareholders approved the merger with Strive this afternoon.

Next up: close the merger and buy Bitcoin. pic.twitter.com/g1EEef3m5t

— Strive (@strive) September 9, 2025

Strive Merger Boosts Stock

It remains unclear what position Ramaswamy, Strive’s co-founder, will hold in the merged company. The new firm joins 186 publicly listed companies that have made significant Bitcoin purchases, up from fewer than 100 at the start of the year, raising concerns about a potentially oversaturated market. Asset Entities ended Tuesday’s session 17.8% higher at $6.28, then jumped more than 52% after-hours to $9.55 following its merger news.

Cole commented:

“This shareholder approval is a defining moment in our mission to build a world-class Bitcoin Treasury Company. […] Our focus is on disciplined, long-term strategies designed to outperform Bitcoin itself over time and create perpetual shareholder value.”

When Strive announced the merger in May, it revealed plans to acquire 75,000 Bitcoin tied to claims from the defunct Mt. Gox exchange at a discounted price. The company added that this approach could help raise its Bitcoin-per-share ratio, a key metric widely used in the Bitcoin treasury sector. However, Strive needs a successful shareholder vote before it can move forward with the Mt. Gox claims. It said, “This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run.”

STRIVE EYES MASSIVE 75,000 BITCOIN BUY FROM MT. GOX CLAIMS

– Strive Enterprises, led by Vivek Ramaswamy, plans to acquire up to 75,000 Bitcoins tied to Mt. Gox bankruptcy claims. This comes via a strategic partnership with 117 Castell Advisory Group.

Key Details:

– Mt. Gox,… pic.twitter.com/rCOwfpFZ6s

— BSCN (@BSCNews) May 21, 2025

$750 Million PIPE Financing

Strive plans to fund its $1.5 billion Bitcoin purchase by securing $750 million via a Private Investment in Public Equity (PIPE). An additional $750 million could come from exercising the warrants issued as part of the PIPE transaction. “Through our reverse-merger structure, zero debt profile, and $750 million PIPE, we are uniquely positioned relative to peers,” Cole said in a statement.

Based on current market values, Strive could purchase roughly 13,450 Bitcoin, positioning itself among the top 10 largest corporate Bitcoin holders. Since its launch, the company has already amassed $2 billion in assets. The company is partnering with Asset Entities, a social media marketing firm with no prior crypto experience, making a bold bet on Bitcoin adoption.

This follows a growing trend of public companies now holding over 1 million Bitcoin, roughly 5.1% of the total supply. Michael Saylor’s Strategy leads with more than 638,000 BTC, followed by companies like MARA Holdings and XXI.