Asset Entities merges with Ramaswamy's Strive to create a Nasdaq Bitcoin financial giant

Shareholders of the U.S.-listed company Asset Entities (ASST) have approved the merger plan with Strive Enterprises. After the merger, the company will be renamed Strive, Inc. and will transform into a digital asset repository (DAT) focusing on Bitcoin. Stimulated by the news, ASST's stock price rose by 17% to close on September 9 and surged another 35% in after-hours trading.

Merger Details and Leadership Structure

According to the announcement, the merged Strive, Inc. will continue to trade on NASDAQ under the stock symbol ASST.

Matt Cole will serve as the Chief Executive Officer (CEO)

Arshia Sarkhani (former CMO of Asset Entities) will join the board and continue to serve as Chief Marketing Officer.

Cole stated that the approval by shareholders is an “important milestone in creating a world-class Bitcoin financial department,” and emphasized that the company's zero-debt structure and reverse merger model will help to “maximize the value of each Bitcoin share.”

Financing and Asset Planning

After the merger is completed, the company plans to conduct a $750 million private investment in public equity (PIPE) and may raise an additional $750 million through the exercise of warrants.

In addition, Strive Enterprises has revealed that it will evaluate distressed Bitcoin claims, including 75,000 Bitcoins related to the defunct Mt. Gox exchange, a move that could present significant asset allocation opportunities for the company.

Strive Background and Ramaswamy Influence

Strive Asset Management (the merged subsidiary) is an investment advisor registered with the U.S. Securities and Exchange Commission (SEC) and has managed assets exceeding $2 billion since launching its first ETF in 2022.

The company was co-founded by biotech billionaire and former U.S. presidential candidate Vivek Ramaswamy, who is seen as a strong contender for the Ohio governor's race in 2026. Ramaswamy's political and business influence may bring additional attention and capital support to Strive's Bitcoin strategy.

The Original Business Foundation of Asset Entities

Before the transformation, Asset Entities mainly provided social media marketing, management, and content delivery services for platforms such as Discord, TikTok, and Instagram. This merger signifies that the company will fully transition from the digital marketing business to the field of Bitcoin and digital asset finance.

Market Response and Potential Impact

Stimulated by the news of merger approval, ASST's stock price closed at 6.28 USD on September 9, with a rise of 17%, and further increased by 35% in after-hours trading.

Market analysis suggests that this transaction will not only position ASST as one of the first publicly listed companies on NASDAQ focused on Bitcoin reserves and asset management, but it may also trigger more traditional publicly listed companies to enter the crypto asset space through reverse mergers.

Conclusion

The merger between Asset Entities and Strive marks the official entry of the Bitcoin financial company into NASDAQ. With a potential financing plan of $1.5 billion and the assessment of Mt. Gox Bitcoin claims underway, Strive, Inc. may become a key player in the Bitcoin strategy of the U.S. capital markets. Investors and participants in the crypto market will closely watch its future developments.