Asset Entities Approves Merger with Strive to Create a $1.5 billion BTC Finance Company

PANews September 10th news, CoinDesk reported that Asset Entities Inc (ASST) announced that its shareholders have approved a merger plan with Strive. Previously, shareholders of Strive Enterprise approved the merger on September 4, paving the way for the merged new company (will be renamed Strive Inc.) to implement its Bitcoin reserve strategy. Former presidential candidate Vivek Ramaswamy co-founded the Strive business in 2022. According to the announcement, the completion of the merger transaction still requires a Nasdaq marketing authorization and other customary conditions. Matt Cole, currently head of Strive Asset Management, will serve as chairman and CEO of the merged company. Strive expects to implement $750 million in private equity financing (PIPE) when the merger is completed, and the total potential financing will exceed $1.5 billion if warrants are exercised. Cole emphasized the company's debt-free structure and said it will maximize the amount of Bitcoin per share through a strict, long-term approach, designed to surpass Bitcoin itself.