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**Asset Entities Stock Soars After Shareholders Approve Merger to Form $1.5B Bitcoin Treasury**

**NEW YORK, NY -** Shares of Asset Entities (ASST), a social media marketing firm, surged over 50% in after-hours trading on Tuesday after shareholders approved a merger with Strive Enterprises, a company co-founded by Vivek Ramaswamy. The merger aims to create a new entity, to be renamed Strive, Inc., with ambitious plans to build a $1.5 billion Bitcoin (BTC) treasury.

According to Asset Entities, a “strong majority” of shareholders voted in favor of the deal. The merged company will continue trading under the ASST ticker. Tuesday’s rally saw ASST close the regular session up 17.8% at $6.28, followed by a significant jump to $9.55 after the merger announcement.

Matt Cole, CEO of Strive Asset Management (a subsidiary of Strive Enterprise), will lead the new company. Arshia Sarkhani, the current CEO and President of Asset Entities, will transition to the role of Chief Marketing Officer and board member. The exact role of Ramaswamy, who also ran for president last year and is running for governor of Ohio next year, within the newly formed company remains unclear.

Strive intends to fund its Bitcoin purchases through a $750 million Private Investment in Public Equity (PIPE) and an additional $750 million potentially raised from the exercise of warrants issued within the PIPE. At current market prices, the $1.5 billion could acquire approximately 13,450 Bitcoin, positioning Strive within the top 10 corporate Bitcoin holders globally.

The merger also hinges on several conditions, including approval of Strive’s listing application by The Nasdaq Stock Market LLC.

Earlier this year, Strive had expressed interest in acquiring 75,000 Bitcoin claims tied to the collapsed Mt. Gox exchange to potentially secure the asset at a discounted price. A successful shareholder vote is needed to pursue the Mt. Gox claims.

This latest move underscores the growing trend of publicly traded companies accumulating Bitcoin, with the number of firms holding significant Bitcoin reserves nearly doubling since the start of the year. However, experts are increasingly watching for potential market saturation. The merger will create the latest player in the game alongside Michael Saylor’s Strategy currently dominating the Bitcoin accumulation race with 638,460 BTC worth $71.2 billion.

Strive, launched in 2022 by Anson Frericks and Ramaswamy, has amassed $2 billion in assets. In comparison, Asset Entities had no previous involvement in the cryptocurrency space prior to the merger agreement.

The trend of public crypto-buying companies has fueled Bitcoin’s price rally to $124,450 as companies tap equity, convertible debt, perpetual stock, and, more recently, Special Purpose Acquisition mergers to fund their plans.

Strive opted for a reverse-merger structure, which is considered safer than the faster-paced SPACs as it relies less on speculative capital raises, dilution, and uncertain deal timelines.

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