**Strive (ASST) Stock Surges 27% Amid Bitcoin Acquisitions and Strategic Expansion**
On October 24, 2025, Strive Asset Management (ASST) stock jumped 27%, closing at $1.10, as investors reacted positively to a series of Bitcoin-focused acquisitions and strategic moves by the Dallas-based firm.
### Major Merger and Bitcoin Treasury Expansion
Strive announced an all-stock merger with Semler Scientific valued at approximately $1.34 billion. This deal adds 5,816 Bitcoin to Strive’s treasury, bringing the combined Bitcoin holdings to nearly 11,000—worth around $675 million at current prices. CEO Matt Cole described the merger as transformational, saying it “cements Strive’s position as a top Bitcoin treasury company.”
The merger values Semler Scientific at $90.52 per share, representing a remarkable 210% premium over its previous trading price.
### Acquisitions and Leadership Changes
Days before the Semler deal, Strive agreed to acquire True North Inc., a Bitcoin media and education platform linked to MicroStrategy. Alongside this acquisition, True North founder Jeff Walton was named Strive’s Chief Risk Officer. Walton expressed enthusiasm about joining Strive, calling it “the most exciting and rational path” to expand crypto education outreach.
In early October, Strive appointed crypto veteran Ben Werkman as Chief Investment Officer. Werkman previously worked at Swan Bitcoin and founded Bitcoin advisory firm NumerisX, bringing valuable expertise to Strive’s growing team.
### Stock Volatility and SEC Filing Impact
Strive’s stock has experienced a turbulent ride throughout 2025. After trading mostly between $0.30 and $0.90 for much of the year, shares briefly soared above $13 mid-year before crashing.
On October 10, an SEC filing revealed plans to register 1.28 billion new shares for insider sales, causing the stock to tumble 32% in after-hours trading. The recent 27% rally marks a strong rebound as investors digest the company’s latest developments.
### Behind Strive’s Bitcoin Treasury Strategy
In May 2025, Strive raised $750 million in equity funding at $1.35 per share— a 121% premium over earlier levels— specifically to purchase Bitcoin, avoiding any debt financing. CEO Matt Cole described Strive as an “alpha-generating Bitcoin acquisition platform,” aiming to outperform Bitcoin’s returns rather than merely tracking them.
Originally founded as an anti-ESG ETF advisor co-founded by former presidential candidate Vivek Ramaswamy, Strive launched its first ETF in August 2022 and now manages approximately $2 billion in client assets. However, the company’s mission has since shifted dramatically.
Strive now promotes itself as “the first publicly traded asset management Bitcoin treasury company,” with a stated goal to “increase Bitcoin per share” over time. This means acquiring Bitcoin at a faster pace than dilution caused by issuing new shares.
Unlike most Bitcoin treasury companies that simply hold crypto assets, Strive actively seeks deals to unlock hidden value, exploring distressed biotech takeovers and settling old Mt. Gox claims to acquire Bitcoin-linked assets at discounts.
### Risks and Market Concerns
Despite its ambitious strategy, Strive’s stock remains highly volatile. Analysts note that Bitcoin treasury companies can move four to five times more than Bitcoin itself, meaning a 5% drop in Bitcoin could trigger a 20% decline in Strive’s shares.
The all-equity funding model introduces constant dilution risk. Kaiko analyst Adam McCarthy warns that digital asset treasury stocks are “hyper-volatile” and behave like leveraged plays on cryptocurrency prices.
Regulatory scrutiny is intensifying, with the SEC and FINRA contacting more than 200 firms regarding unusual trading around crypto treasury announcements. Some crypto commentators criticize these strategies; for example, Kadan Stadelmann labeled certain maneuvers as “self-dealing, dressed up as capital deployment.”
Nonetheless, supporters see potential in the sector. Blockchain investor Ryan Watkins suggested that well-run digital asset treasurers could become the “Berkshire Hathaways of their blockchains,” while Blockchain.com CEO Peter Smith praised the space as “capitalism” poised for consolidation among the strongest players.
### Outlook and Next Steps
No major Wall Street firm currently covers ASST stock, and research platforms show no consensus price target. Over the past 12 months, the stock has ranged from $0.34 to $13.42, reflecting significant volatility driven by crypto price fluctuations and share dilution.
Earlier in October, Strive’s market capitalization briefly fell below the value of its Bitcoin holdings, indicating investor concerns over dilution. The recent rally underscores how quickly sentiment can shift, with trading volume surging as investors reassess the company’s prospects.
Bitcoin itself has rallied roughly 20% in 2025, helped by easing inflation and pro-crypto regulatory moves that bridge digital currencies with traditional finance.
Strive is following MicroStrategy’s playbook of using equity to fund Bitcoin purchases but is adding unique elements through media acquisitions and strategic partnerships. Chief Investment Officer Ben Werkman expressed excitement about joining Strive at such a “pivotal moment in Bitcoin’s history,” highlighting the mission to leverage Bitcoin “in the next frontier of corporate finance.”
CEO Matt Cole cautioned that forward-looking statements involve risks and uncertainties, emphasizing that execution risk remains high given Strive’s aggressive deal-making and lack of debt cushion.
Strive’s next earnings report is expected on November 13, 2025. Following recent acquisitions, the company currently holds over 10,900 Bitcoin on its balance sheet.
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*Stay tuned for updates as Strive continues to develop its unique Bitcoin treasury strategy in the rapidly evolving digital asset landscape.*
https://coincentral.com/strive-asst-stock-soars-follows-1-3b-merger-and-bitcoin-buying-spree/
