Strive, the investment firm founded by entrepreneur and political figure Vivek Ramaswami, has recently announced a significant capital raise of $750 million aimed at driving “alpha-generating” strategies through Bitcoin acquisitions. This bold move positions Strive as a growing force in the crypto asset management space, pursuing unconventional approaches to accumulate Bitcoin beyond simple market purchases.
In a detailed statement released on May 27, Strive outlined its multifaceted strategy. Instead of relying solely on straightforward Bitcoin buys, the firm intends to capitalize on undervalued opportunities tied to the cryptocurrency ecosystem. These include acquiring stakes in undervalued biotech firms—reflecting Ramaswami’s own background in biotech—purchasing “distressed Bitcoin claims” such as those stemming from crypto exchange hacks or bankruptcies, and snapping up the lowest risk tranches of Bitcoin-backed credit products at a discount.
Strive’s CEO, Matt Cole, emphasized the innovative nature of this approach: “Our alpha-generating Bitcoin accumulation strategies are designed to deliver sustained outperformance compared to holding Bitcoin directly. This requires thinking beyond traditional valuation methods.”
Notably, this $750 million raise is not the ceiling for Strive’s ambitions. If the company’s associated warrants are fully exercised, the total capital pool could double to $1.5 billion, effectively boosting the firm’s Bitcoin purchasing capacity and potentially elevating it to the ranks of the top five Bitcoin treasury holders worldwide.
The funds were raised privately, with shares priced at $1.35 each, in partnership with Asset Entities—a social media marketing company with which Strive is planning a reverse merger. This strategic combination is aimed at expanding Strive’s market reach and accelerating its public listing ambitions.
Strive’s plans extend beyond mere capital raising. Earlier filings revealed the company’s intent to acquire a sizable portion of Bitcoin claims linked to the long-troubled Mt. Gox exchange bankruptcy, specifically targeting approximately 75,000 BTC in claims that have undergone definitive legal rulings and are now eligible for distribution. This niche but potentially lucrative avenue underlines Strive’s focus on unique Bitcoin acquisition channels that traditional investors may overlook.
Since launching Bitcoin offerings to clients in November 2024, Strive has also sought regulatory approval for innovative investment products, including a Bitcoin bond exchange-traded fund (ETF), signaling the firm’s commitment to expanding Bitcoin investment options within regulated financial markets.
Vivek Ramaswami’s personal journey adds an intriguing layer to Strive’s crypto venture. Known for amassing his wealth through biotech firm Roivant Sciences, Ramaswami also made headlines in the political arena by running in the 2024 Republican primaries before eventually endorsing former President Donald Trump. This political connection gains further relevance as Trump issued an executive order in March 2025, advocating for the establishment of a national strategic Bitcoin reserve, a move that aligns with Strive’s ambitions of mainstream Bitcoin treasury accumulation.
Strive’s sophisticated, multi-pronged strategy reflects a broader evolution in how institutional players approach Bitcoin—not merely as a speculative asset, but as a strategic financial instrument with layers of value extraction beyond the spot market. The firm’s pursuit of distressed assets, credit vehicle tranches, and legally adjudicated crypto claims demonstrates a nuanced understanding of the cryptocurrency ecosystem’s complexities.
As Bitcoin continues to solidify its position in global finance, innovative firms like Strive are carving out competitive advantages by exploring these less traditional avenues. Should Strive’s ambitious plans come to fruition, it could shift the landscape of institutional Bitcoin holders, setting new standards for alpha generation and strategic accumulation in the crypto space.
