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Strive Inc. (NASDAQ:ASST) shares tumbled sharply Monday as investors digested the company’s aggressive Bitcoin (CRYPTO: BTC/USD) accumulation plan. The company, having just completed its merger with Asset Entities Inc., had earlier outlined a strategy featuring $750 million in upfront financing and another $750 million in potential warrant-driven funds.
The merger delivered Strive an initial stake of 69 Bitcoin via a Section 351 exchange. It also enabled Strive to qualify as a well-known seasoned issuer, giving it access to tools such as a $450 million at-the-market offering and possible debt issuances.
Matt Cole, chairman and CEO, described the board as mission-aligned, purposed to grow Bitcoin per share and deliver shareholder value through governance, capital markets expertise, and long-term strategy.
Also Read: Vivek Ramaswamy’s Strive To Board The Bitcoin Treasury Company With $1.5 Billion Raise
Strive’s board now includes experts such as Shirish Jajodia of Strategy Inc. (NASDAQ:MSTR), Pierre Rochard of The Bitcoin Bond Company, Ben Werkman of Swan, James Lavish of The Bitcoin Opportunity Fund, and Avik Roy of the Foundation for Research on Equal Opportunity. They bring skills in policy, governance, treasury management, and digital asset strategy.
Along with its fundraising strategy, the company has authorized a $500 million stock buyback program. It also plans to issue a perpetual preferred equity security in 2025, intended to further Bitcoin purchases while providing yield opportunities for income-focused investors.
Despite the ambitious strategy, ASST shares plunged significantly Monday amid concerns about dilution, uncertainties in execution, and potential regulatory risks around such aggressive crypto-treasury initiatives.
Price Action: ASST shares are trading lower by 17.48% to $7.006 at last check Monday.
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