New York-based FNY Investment Advisers has taken a significant step into the Bitcoin space by acquiring 160,000 shares of Strive (ASST). This investment establishes a new position for First New York, coinciding with ASST’s recent closing price of approximately $0.78 per share. Currently, this stake represents a value exceeding $125,000, compared to the initial outlay of around $118,000 for the shares.
What are Strive’s growth plans? Strive, backed by Vivek Ramaswamy, is a Bitcoin-focused asset management firm planning to raise $150 million through a follow-on offering of its SATA preferred stock. This funding will be directed toward acquiring more Bitcoin and related assets, reducing existing debt, and facilitating overall corporate growth.
In addition to these strategic initiatives, Strive recently received shareholder approval for its acquisition of Semler Scientific, completed on January 16. This move has contributed over 5,000 BTC to Strive’s treasury, bringing its total Bitcoin holdings to approximately 12,798 BTC.
With this substantial amount of Bitcoin, Strive now positions itself as the 11th largest corporate Bitcoin holder, surpassing well-known entities such as Tesla and Trump Media & Technology Group. This strategic acquisition and investment in Bitcoin indicate a clear path toward enhancing corporate value and fortifying its market position.