Strive CEO: Plans to Purchase Over $700 Million Worth of Bitcoin After IPO

BlockBeats News, August 28th, CEO of Strive Funds, Matt Cole, stated that they plan to purchase over $700 million worth of Bitcoin after going public.

On May 27th, Strive announced the completion of a $750 million private equity financing at a subscription price of $1.35 per share, with the opportunity to expand to a $1.5 billion financing through warrants. Strive will focus on deploying a "superior Bitcoin yield" strategy portfolio, with the financing being used for acquiring biotech companies, distressed Bitcoin debt (such as Mt. Gox claims), and discounted structured Bitcoin credit products to build its Bitcoin reserve treasury.