Strive CEO: Plans to purchase over $700 million worth of bitcoin after going public
BlockBeats News, August 28, Strive Funds CEO Matt Cole stated that they plan to purchase over $700 million worth of bitcoin after listing.
On May 27, Strive announced the completion of a $750 million private equity financing round at a subscription price of $1.35 per share, with the opportunity to expand the financing to $1.5 billion through warrants. Strive will focus on deploying an "excess bitcoin yield" strategic portfolio. The funds raised will be used to acquire biotechnology companies, distressed bitcoin claims (such as Mt.Gox compensation rights), and discounted structured bitcoin credit products to build its bitcoin reserve treasury.
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