Vivek Ramaswamy's Strive to raise $500M to buy Bitcoin
Analysis
Price Impact
HighStrive, a significant corporate bitcoin holder, initiating a $500 million preferred stock offering specifically to acquire more bitcoin and bitcoin-related products represents a substantial capital inflow into the market. this large-scale, institutional accumulation adds significant buying pressure.
Trustworthiness
HighThe news comes from cointelegraph, a reputable crypto news source, detailing an official announcement from strive, co-founded by vivek ramaswamy. the details about the stock offering and strive's current btc holdings are verifiable facts, making the report highly credible.
Price Direction
BullishThe intention to raise $500 million to acquire bitcoin directly translates to increased demand and buying pressure for btc. this institutional buying strategy, reminiscent of michael saylor's microstrategy, typically has a bullish effect on the price as a significant amount of capital is earmarked for accumulation.
Time Effect
LongWhile the announcement itself may provide a short-term positive sentiment boost, the actual deployment and accumulation of $500 million worth of bitcoin will likely occur over an extended period. this sustained buying pressure will contribute to a long-term bullish outlook for btc, supporting its price floor and potentially driving gradual appreciation.
Original Article:
Article Content:
Martin Young 3 minutes ago Vivek Ramaswamy's Strive to raise $500M to buy Bitcoin Strive, co-founded in 2022 by American entrepreneur Vivek Ramaswamy, launched a $500 million preferred stock offering to acquire more Bitcoin and Bitcoin-related products. Listen 0:00 News COINTELEGRAPH IN YOUR SOCIAL FEED Publicly traded asset manager and Bitcoin treasury company Strive has announced a $500 million stock sales program to raise funds for additional BTC purchases. The firm, which was co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy, stated on Tuesday that it intends to use the net proceeds from the sale for “general corporate purposes, including, among other things, the acquisition of Bitcoin and Bitcoin-related products and for working capital.” It also intends to purchase “income-generating assets” to grow the company’s business, but did not specify which. The move represents another significant public company using capital markets to accumulate Bitcoin ( BTC ), a strategy pioneered by Michael Saylor’s Strategy. Strive is the 14th largest holder of Bitcoin Strive is the fourteenth-largest corporate holder of Bitcoin, with 7,525 BTC worth approximately $694 million at current market prices. The firm announced its pivot to a Bitcoin treasury through a public reverse merger in May. In September, Strive agreed to acquire Semler Scientific in a move that positioned the combined entity as one of the largest corporate holders of BTC. Related: Strive calls on MSCI to rethink its ‘unworkable’ Bitcoin blacklist Since launching its first exchange-traded fund in August 2022, Strive Asset Management has grown to manage over $2 billion in assets. Strive shares (ASST) gained 3.6% on Tuesday to end the day trading at $1.02, according to Google Finance. Its stock has more than doubled since the beginning of the year. Strive shares gain following the announcement. Source: Google News Stive urges MSCI to include Bitcoin treasuries Earlier this month, Strive CEO Matt Cole urged stock market index MSCI to “let the market decide” whether they want to include Bitcoin-holding companies in their passive investments. The move follows MSCI consultations with the investment community about whether to exclude Bitcoin and other digital asset treasury companies (DATs) that have a balance sheet with more than 50% crypto assets. Magazine: XRP’s ‘now or never’ moment, Kalshi taps Solana: Hodler’s Digest # Bitcoin # Business # Investments # Stock Investment Add reaction