DeutschWith Strive, the next US company wants to create its own Bitcoin reserve. According to its own information, it has expertise that puts comparable Bitcoin treasury companies in the shade. Initially, 750 million US dollars are to flow into BTC.
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Strive: New Bitcoin Reserve Worth $750 Million Planned
The US asset manager Strive plans to build its own Bitcoin reserve. According to a press release, this should initially amount to 750 million US dollars.
Ultimately, expanding the reserve to up to 1.5 billion US dollars is conceivable. Strive proudly explains that if this volume is achieved, it will become one of the largest Bitcoin holders worldwide.
However, the asset manager does not want to become a so-called Bitcoin treasury company. Although BTC takes on the role of an investment, it should not replace the company’s core business.
“Strive is not a typical ‘Bitcoin treasury company’ – we are a profitable asset manager that uses Bitcoin as a store of value and as a hurdle rate for capital allocation.”
Strive is therefore not completely dependent on its net asset value, but also maintains other business divisions apart from the Bitcoin investment, which also generate profits and thus lead to a more stable business operation.
The Bitcoin reserve is not to be financed by taking out loans. The company is deliberately refraining from taking on debt. Instead, it wants to raise the 750 million US dollars through private investors.
“Strive is receiving a private investment of $750 million to accumulate the first wave of Bitcoin,” the company said.
This is how Strive Wants to Gain an Advantage over other Bitcoin Proxies
Strive wants to gain a decisive advantage on the market over other Bitcoin proxies. The concept of a publicly traded Bitcoin investment proxy is currently very popular. More and more companies are jumping on the trend – especially in the USA.
According to its own information, Strive’s expertise in the field of asset management is effective in ousting a large part of the competition in the long term. They can identify opportunities on the market and use them profitably to accumulate Bitcoin faster than the competition.
“Strive uses its own expertise to implement new profitable strategies”, the press release says. For example, they want to acquire company shares that are sold below value or claims from Bitcoin legal disputes.
In order to implement all of this, however, a merger with Asset Entities (ASST) must first be enforced. The vote is open to shareholders until September 9th.
“Strive Asset Management plans to merge with Asset Entities (NASDAQ: ASST) to create the first publicly traded asset management company for Bitcoin financial assets,”
they explained in a public statement back in July.
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“The merged company will be the first of its kind to offer the exchange of Bitcoin for shares in publicly traded companies, with the transaction being tax-free for investors,” it continues.
Strive Managing Director Matt Cole is calling on shareholders to quickly take part in the election in order to achieve the desired result.
“The election is now active. It ends on September 9th. This is really exciting. We will then buy Bitcoin worth more than 700 million US dollars. (…) Vote “Yes”,” Cole explained in an interview.
Buy Bitcoin now!
