Vivek Ramaswamy’s Strive Goes All-In on Bitcoin—First NASDAQ-Listed Asset Manager to Hold BTC on Balance Sheet
Wall Street’s crypto skeptics just got a wake-up call. Strive Asset Management, co-founded by billionaire Vivek Ramaswamy, is making history as the first NASDAQ-listed asset manager to allocate Bitcoin to its treasury—because apparently, cash is so 2020.
The playbook: While rivals hedge with futures or custody partnerships, Strive cuts through the noise by directly holding BTC. A bold move that screams conviction—or desperation for relevance in an ETF-saturated market.
Why it matters: This isn’t just another ’institutional adoption’ headline. It’s a publicly traded firm putting skin in the game, bypassing the usual Wall Street hand-wringing about volatility and regulation.
The kicker: Ramaswamy’s anti-ESG crusade now has a $21 trillion crypto twist. Because nothing sticks it to the establishment like converting fiat into a decentralized asset—while still collecting those sweet management fees, of course.
Equity for Bitcoin
One strategy espoused by the firm involves offering company equity in exchange for Bitcoin, which is structured to avoid triggering a taxable event for BTC holders.
Strive also aims to acquire undervalued or overcapitalized companies to access cash at a discount.
By leveraging its internal capabilities in fixed income and derivatives, the firm expects to strengthen its balance sheet and expand its ability to acquire Bitcoin.
Through this approach, Strive targets up to $1 billion in capital via equity and debt offerings to accelerate its accumulation strategy.
Meanwhile, the reverse merger structure is designed to give the combined entity immediate access to capital markets, eliminating many regulatory delays typical of public offerings. This flexibility is expected to support the firm’s rapid growth plans and align shareholder interests with the Bitcoin treasury thesis.
Rising interest in BTC treasuries
Strive’s strategic pivot follows a broader trend of corporate moves into Bitcoin.
Over the past months, several firms, including banking giant Cantor Fitzgerald in partnership with Tether, have shown massive interest in acquiring the top crypto.
Around the same time, Japan’s Metaplanet announced plans to open a US subsidiary focused on Bitcoin accumulation.
These firms are part of a growing group aiming to challenge Strategy (formerly MicroStrategy), the software company that pioneered the public Bitcoin Treasury model.
According to analysts at Bernstein, this wave of institutional interest is far from over. The firm projects $330 billion in corporate inflows into Bitcoin over the next five years, with Strategy expected to lead the charge while smaller players like Strive work to replicate its success.
