A brand new sort of Bitcoin Treasury Firm has emerged—one designed not solely to build up Bitcoin, however to outperform it.
This week throughout Bitcoin For Firms at Strategy World 2025, Strive Asset Administration introduced it’s combining with NASDAQ-listed Asset Entities (ASST) to turn out to be the primary publicly traded asset manager-led Bitcoin Treasury Firm.
However this isn’t simply one other steadiness sheet allocation.
Strive is industrializing the Bitcoin treasury playbook—introducing a multi-engine mannequin that leverages tax benefits, capital markets, and steadiness sheet engineering to drive one clear final result: “Maximize Bitcoin per share. Outperform Bitcoin over time.”
Bitcoin because the Hurdle Fee
Strive doesn’t deal with Bitcoin as a hedge or an opportunistic purchase—it treats it as a benchmark. A capital hurdle price.
Each capital allocation determination, funding venture, or acquisition should meet one customary: will it outperform Bitcoin over the long term?
If not, it doesn’t deserve capital.
This transforms Bitcoin from a passive asset into an energetic filter—a structural disciplining pressure embedded into treasury operations and governance. It reframes the position of a company treasury from reactive to sovereign: maintain the toughest cash accessible, and solely deploy it when returns are provably superior.
Strive’s Three-Engine Mannequin for Bitcoin Accumulation
Strive’s method is just not depending on a single technique—it’s a multi-layered framework engineered for Bitcoin scalability and capital effectivity.
1. Part 351 Tax-Deferred Bitcoin-for-Fairness Swap
Strive is operationalizing Part 351 of the U.S. tax code, which permits accredited Bitcoin holders to contribute BTC to the corporate in change for fairness—with out triggering capital beneficial properties taxes.
That is greater than a tax effectivity software. It creates a secure, long-term-aligned shareholder base, as Bitcoin contributors turn out to be fairness holders with out the friction of liquidation. It additionally positions Strive as a high-trust gateway for Bitcoin-native capital to enter public markets structurally, not speculatively.
2. Money-at-a-Low cost Acquisition Strategy
Over $30B price of U.S. public firms presently commerce under web money.
Strive is focusing on these firms—buying them under intrinsic worth, unlocking trapped fiat reserves, and changing them into Bitcoin. This method is each self-funding and accretive to BTC/share, turning stranded capital into productive reserve belongings.
It’s not simply accumulation—it’s steadiness sheet reformation.
3. Institutional Leverage with Threat Controls
Strive brings institutional mounted earnings and derivatives experience to the Bitcoin treasury mannequin. This contains:
- Choices overlays to restrict draw back threat
- Pay as you go forwards for artificial BTC publicity
- Mounted earnings methods to extract yield and recycle capital into Bitcoin
The purpose: enhance Bitcoin publicity whereas sustaining draw back safety and avoiding shareholder dilution. This isn’t leverage for the sake of leverage—it’s engineered torque with institutional threat structure behind it.
Reverse Merger for Speedy Capital Entry
Relatively than pursue a standard IPO, Strive executed a reverse merger with Asset Entities, gaining speedy entry to the general public markets—and a dwell $S-3 shelf registration.
This implies they’ll elevate capital at will, with velocity and adaptability, utilizing fairness or debt—essential in Bitcoin cycles the place market home windows are quick and provide dynamics shift quick.
As Matt Cole, Strive’s CEO, stated on stage: “Most companies spend 12–24 months preparing to access capital. We’re already operating at scale.”
Built-in Attention Funnel and Distribution
Strive additionally inherits one thing most monetary establishments lack: a native digital media stack.
By Asset Entities, the corporate now controls a social content material and distribution engine with:
- 2M+ followers
- A 200K+ Discord group
- Over 1B+ engagements within the final 90 days—all with no paid promoting
This isn’t simply advertising—it’s an natural schooling and investor activation loop. It permits Strive to form shareholder narratives, drive investor influx, and reinforce its treasury mannequin by means of content material—not commercials.
From Activist Capital to Bitcoin-First Treasury Governance
Strive already made a reputation difficult ESG and DEI mandates, re-centering shareholder worth within the capital markets. Now it’s making use of that very same governance philosophy to company treasuries.
By its voting energy and funding positions, Strive plans to stress portfolio firms to allocate reserves to Bitcoin—or clarify, in clear financial phrases, why they proceed holding inflationary fiat.
That is Bitcoin as a shareholder governance vector—not only a steadiness sheet line merchandise.
Not Replicating Strategy—Evolving It
Strive is commonly in comparison with Strategy (previously MicroStrategy), which pioneered the general public firm Bitcoin treasury mannequin.
However whereas Strategy stays the class chief, Strive is extending the class:
- Part 351 exchanges to onboard Bitcoin tax effectively
- Roll-up acquisitions of cash-rich, underperforming public firms
- Institutional-grade overlays to keep away from dilution and maximize per-share accumulation
It’s a quicker, extra capital-flexible, and risk-mitigated design—constructed to outperform Bitcoin on a per-share foundation.
A U.S. Benefit—and a International Sign
Strive’s use of Part 351 additionally reveals one thing strategic: the U.S. is the one jurisdiction on the earth that presently permits Bitcoin to be contributed to a public firm tax-deferred.
That makes the U.S. a regulatory onramp for institutional-scale Bitcoin monetization—and Strive the primary to take advantage of it at scale.
This positions them not simply as a public firm—however as a bridge for sovereign and company capital to rotate out of fiat into Bitcoin through compliant, equity-based buildings.
Conclusion: A New Mannequin Emerges
Strive is constructing greater than a treasury. It’s constructing a system—one which fuses institutional asset administration, activist governance, retail engagement, and Bitcoin-native capital technique.
It doesn’t search to carry extra Bitcoin than anybody else. It seeks to maintain extra per share, extra effectively, extra repeatably, and extra defensibly than anybody else.
For firms, buyers, and allocators watching the rise of Bitcoin-native company finance, Strive is a sign of how shortly the playbook is evolving.
