U.S. asset manager Strive to pursue $700 million Bitcoin purchase

JOON HYOUNG LEE

Summary

Strive said it will pursue a $700 million (about KRW 970 billion) purchase of Bitcoin.
It said it plans to launch a Bitcoin-focused asset management firm after listing on NASDAQ.
CEO Matt Cole said Bitcoin is a hedge in the era of artificial intelligence (AI).

U.S. asset manager Strive is pursuing a $700 million (about KRW 970 billion) purchase of Bitcoin (BTC).

On the 28th (local time), according to foreign outlets including Cointelegraph, Matt Cole, Strive's chief executive officer (CEO), attended the 'Bitcoin Asia 2025' conference in Hong Kong and said, "We will purchase more than $700 million of Bitcoin after listing."

Strive is seeking a backdoor listing by merging with NASDAQ-listed Asset Entities. Strive plans to launch a Bitcoin-focused asset management firm upon its NASDAQ listing.

CEO Cole has cited Bitcoin as a hedge in the era of artificial intelligence (AI). Earlier, in an interview in June, Cole said, "AI is both an opportunity and a risk," adding, "If (AI) poses a risk to the business, we can put Bitcoin on the balance sheet to defend against that risk."

BTC