The actions of the Marketing Fiest Entité (ASST) marketing firm increased by 52% of the exchanges after working hours on Tuesday after its shareholders approved a merger with the Strive Enterprises of Vivek Ramaswamy to form a Bitcoin cash company.
Asset entities said on Tuesday that a “large majority” of shareholders voted for the merger with plans to raise $ 1.5 billion to buy Bitcoin (BTC). The new company will be renamed in Strive, Inc. and will continue to negotiate under the Ticker Asst.
The actions of asset entities closed the exchanges on Tuesday up 17.8% to $ 6.28 and joined more than 52% after the opening hours to $ 9.55 on the announcement of the company’s merger.
Matt Cole, CEO of the subsidiary of Strive Enterprise, Strive Asset Management, will direct the Combined Company, while the CEO and president of Asset Entities and President Arshia Sarkhani will serve as director of marketing and member of the board of directors.
It is not clear what role Ramaswamy, the co -founder of Strive, will have in the new company merged.
The new company is the latest addition to the 186 public companies reporting Bitcoin purchases on a large scale, which went from less than 100 to the beginning of the year and aroused concerns of a sunseaturated market.
Strive tries reverse search for $ 1.5 billion Bitcoin Guys
The trend of public cryptography purchasing companies has fueled the Bitcoin price rally at $ 124,450 while companies operate equity, convertible debt, perpetual actions and, more recently, special acquisition mergers to finance their plans.
Strive has opted for an insane fusion structure, which is considered safer than faster spaces because it is less based on the increases in speculative capital, dilution and uncertain deadlines for the agreement.
Strive plans to finance its Bitcoin purchases of $ 1.5 billion with $ 750 million in a private public equity investment (PIP), plus $ 750 million that may come from the exercise of the mandates issued in the pipe.
The planned increase of $ 1.5 billion would allow the company to buy 13,450 bitcoin at current market prices, which placed it in the 10 largest corporate bitcoin portfolio companies.
The closing of the merger depends on certain conditions, in particular the authorization of the station of station of streens by the Nasdaq Stock Market LLC.
Strive had his eyes on Mt. Gox Bitcoin
When the merger was announced in May, Strive said that it sought to acquire 75,000 bitcoin from complaints related to the Crypto Exchange collapsed MT. Gox to buy the assets at a discount.
Strive said that the strategy could help increase its Bitcoin report by sharing, an increasingly used measurement in the space of the Bitcoin Treasury.
However, a successful shareholder vote is necessary to continue complaints from Mont Gox.
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Strive has accumulated $ 2 billion in assets since its launch in 2022 by Anson FRERRICKS and RAMASWAMY, a biotechnology entrepreneur who presented himself to the presidency last year and who presents himself as Ohio Governor next year.
Asset ENTIES is a marketing company on social networks that has not had an active involvement in Bitcoin or the cryptographic industry before the fusion announced with Strive.
The adoption of corporate bitcoin strikes the milestone
Public companies now hold one million combined bitcoins, representing 5.1% of the Bitcoin supply currently in circulation.
Michael Saylor’s strategy continues to dominate the Bitcoin accumulation race with 638,460 BTC worth $ 71.2 billion, while Mara Holdings and XXI complement the first three with 52,477 BTC and 43,514 BTC.
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