ASST approved to merge with Strive, plans to acquire over $700 million worth of bitcoin

BlockBeats news, on September 10, shareholders of Asset Entities Inc (ASST) approved a merger with Strive Enterprises. After the merger, the company will be renamed Strive Inc and will implement a bitcoin treasury strategy. Matt Cole, the current head of Strive Asset Management, will serve as chairman and CEO of the merged company, while Arshia Sarkhani, president and CEO of Asset Entities, will become chief marketing officer and a member of the board.

On May 27, asset management company Strive announced the completion of a $750 million private equity financing round and will deploy an "excess bitcoin yield" strategy. Strive CEO Matt Cole stated in August that the company plans to purchase more than $700 million worth of bitcoin after going public.