Shares of Asset Entities surged in after-hours trading on Tuesday after the company’s shareholders approved a landmark merger with Strive Enterprises. The deal aims to create a $1.5 billion Bitcoin treasury, adding the marketing firm to the growing list of publicly traded companies betting heavily on the cryptocurrency. The move represents one of the most ambitious corporate Bitcoin strategies in 2025, positioning the merged company, which will be renamed Strive, Inc., as a top-10 corporate holder of the digital asset.

Asset Entities Shareholders Approve Strive Merger

According to Tuesday’s reveal, a strong majority of Asset Entities shareholders voted in favor of the merger with Vivek Ramaswamy’s Strive Enterprises. Following the decision, Asset Entities stock closed the regular trading session at $6.28, up 17.8%, before rallying another 52% after hours to $9.55.

The merger underscores growing investor interest in companies with direct exposure to Bitcoin. Once finalized, the combined entity will trade under the ticker ASST.

Leadership and Management Changes

As part of the deal, Matt Cole, CEO of Strive Asset Management (a subsidiary of Strive Enterprises), will take over as chief executive of the newly formed company. Meanwhile, Arshia Sarkhani, CEO and president of Asset Entities, will transition to chief marketing officer while also joining the board of directors.

It remains unclear what role Strive co-founder Vivek Ramaswamy will play in the merged company. Ramaswamy, a biotech entrepreneur and former U.S. presidential candidate, has since turned his focus toward politics and is currently running for governor of Ohio.

Building a $1.5 Billion Bitcoin Treasury

The centerpiece of the merger is Strive’s ambitious plan to build a $1.5 billion Bitcoin treasury. The company intends to raise funds through a $750 million Private Investment in Public Equity (PIPE), alongside an additional $750 million that could come from warrants tied to the PIPE.

If completed, the fundraising would allow Strive to purchase an estimated 13,450 Bitcoin at current market prices, instantly placing the firm among the top corporate holders of the cryptocurrency.

This strategy mirrors the playbook of companies like MicroStrategy, which has aggressively accumulated Bitcoin over the past several years as a corporate treasury asset.

A Reverse-Merger Approach

Strive chose to pursue the deal through a reverse-merger structure, considered a more stable alternative to Special Purpose Acquisition Companies (SPACs). Unlike SPACs, reverse mergers rely less on speculative capital raises and tend to reduce dilution risk for shareholders.

The merger is contingent on approval from The Nasdaq Stock Market, where the newly formed Strive, Inc. intends to maintain its listing.

Strive’s Mt. Gox Bitcoin Ambitions

Back in May, when the merger talks were first disclosed, Strive signaled an interest in acquiring 75,000 Bitcoin linked to claims from the collapsed Mt. Gox exchange. The strategy would allow Strive to obtain Bitcoin at a discount, potentially boosting its Bitcoin-per-share ratio, a metric increasingly used by investors to measure value in Bitcoin treasury companies.

Whether Strive can move forward with this acquisition depends on the successful completion of the merger and shareholder support for the Mt. Gox strategy.

Asset Entities’ Transformation

Before the deal, Asset Entities was known primarily as a social media marketing firm with no direct ties to the cryptocurrency industry. The merger represents a dramatic pivot, turning the company into a major player in the corporate Bitcoin treasury movement.

This reflects a broader trend in 2025, where more companies outside of traditional finance are exploring Bitcoin as a store of value and strategic asset.

Corporate Bitcoin Adoption Reaches New Heights

With Asset Entities joining the ranks, publicly traded companies now collectively hold 1 million Bitcoin, representing more than 5% of the circulating supply.

The corporate Bitcoin leaderboard continues to be dominated by Michael Saylor’s MicroStrategy, which holds 638,460 BTC worth more than $71 billion. MARA Holdings and XXI follow with 52,477 BTC and 43,514 BTC respectively.

The wave of corporate Bitcoin accumulation has helped drive prices higher, with Bitcoin recently hitting $124,450, fueled by growing demand from both institutional investors and corporations.

The Bigger Picture

The Asset Entities-Strive merger highlights the ongoing convergence of traditional business sectors with the cryptocurrency market. For investors, the deal represents a bet not only on Bitcoin’s long-term value but also on the ability of companies to leverage digital assets as a treasury and strategic growth tool.

Whether Strive’s $1.5 billion plan succeeds will depend on execution, regulatory approval, and the volatility of the Bitcoin market itself. But one thing is clear: corporate adoption of Bitcoin is no longer a fringe experiment—it has become a defining theme of 2025.