Shares in the marketing firm Asset Entities saw a significant increase after shareholders approved a merger with Strive Enterprises. The new entity is focused on creating a treasury company centered on Bitcoin purchases.
Merger Approval
Shareholders voted in favor of the merger with Strive Enterprises, resulting in a 52% jump in the company’s shares during after-hours trading. The transaction is expected to close soon.
Funding Strategy
Strive Enterprises plans to raise $1.5 billion for Bitcoin purchases, utilizing $750 million through a private equity placement and further funds from warrant exercises.
Corporate Bitcoin Adoption
The merger is part of a growing trend among public companies looking to increase their Bitcoin reserves. As of now, companies collectively hold over 1 million Bitcoin, making up 5.1% of the circulating supply.
The merger of Asset Entities and Strive Enterprises highlights the efforts of public companies to actively invest in cryptocurrencies. This could represent an important step in the development of the Bitcoin market and attracting new investments.
