American billionaire Vivek Ramaswamy’s company, “Strive”, has completed a $162 billion purchase of 1,567 Bitcoin. Following the launch of its IPO, Strive disclosed the purchase of 1,567 BTC, valued at approximately $103,315 per Bitcoin. As of Monday, the company now has 7,525 Bitcoin.
Strive Asset Management was founded by Ramaswamy in 2022 and manages approximately $2 billion in assets. The company has invested heavily in cryptocurrency, particularly Bitcoin. On its official website, Strive says it sees Bitcoin “as the most secure, transparent and resilient reserve asset available to businesses today – and a natural benchmark for long-term capital discipline.”
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“The successful IPO of SATA stock makes Strive the first Bitcoin treasury company to fund its Bitcoin enhancement exclusively through perpetual preferred equity, and the second overall, after Strategy, to issue a publicly traded perpetual preferred stock,” said Matt Cole, Chairman and CEO. “Although Strive only went public in September, we have quickly demonstrated to the market both the speed and precision with which our team works to drive long-term value for our shareholders, with Bitcoin as our hurdle speed.”
While Vivek Ramaswamy’s company doesn’t offer a traditional spot Bitcoin ETF yet, it filed to launch a “Bitcoin Bond” ETF with the SEC earlier this year. After it receives a green signal, the ETF’s shares will be listed on the New York Stock Exchange (NYSE) and held by the Depository Trust Company. The fund is intended to meet regulated investment practice standards and will release earnings on a weekly basis.
