Institutional Bitcoin Investments Accelerate: Strive Plans $500 Million Capital Raise

Strive Announces Comprehensive Capital Raising Program

Nasdaq-listed asset manager Strive announced an at-the-market offering program with a volume of up to $500 million on Tuesday ^[1]. The company, founded by tech entrepreneur and politician Vivek Ramaswamy, has entered into an agreement with Cantor Fitzgerald, Barclays, and Clear Street for this purpose ^[1].

According to the company, proceeds from the program will be used for general corporate purposes, including additional bitcoin purchases ^[1]. "The program builds on the success of the expanded SATA IPO and provides us with additional capital for general corporate purposes, including the acquisition of additional bitcoin," the company stated ^[1].

Strive Among World's Largest Bitcoin Holders

Currently, Strive holds 7,525 bitcoin and is thus the fourteenth-largest bitcoin treasury in the world ^[1][4]. At current market prices, this corresponds to a value of approximately $694 million ^[4]. Since the announcement of its bitcoin treasury strategy through a public reverse merger in May, the company has positioned itself strategically ^[4]. In September, Strive acquired bitcoin treasury provider Semler Scientific, making the combined company one of the largest corporate bitcoin holders ^[1][4].

Strive's stock price has barely moved since the latest announcement and is up 3.5 percent year-to-date ^[1]. Strive Asset Management has managed over $2 billion in assets under management since launching its first exchange-traded fund in August 2022 ^[4].

Michael Saylor Predicts Extreme Price Targets

Parallel to Strive's expansion plans, MicroStrategy founder Michael Saylor is making headlines with bold predictions. At the Bitcoin MENA 2025 conference in Abu Dhabi, Saylor proposed that bitcoin could rise to $10 million if institutional investors reach 7.5 percent of the network ^[5].

"If we're lucky and ever reach 5 percent of the network, bitcoin will be worth at least $1 million," Saylor said ^[5]. "And if we ever reach 7.5 percent of the network, bitcoin will rise to $10 million."

Saylor argues that treasury firms like MicroStrategy have already "excited 50 million people about bitcoin" ^[5]. According to his assessment, this number could double to 100 million beneficiaries over the coming years as institutional investor adoption accelerates ^[5].

Institutional Capital as Price Driver

Particularly noteworthy is Saylor's assessment of the importance of institutional capital: without public equity structures and lending instruments, bitcoin would trade at only about $10,000, equivalent to a market capitalization of $200 billion, far below the current $1.9 trillion ^[5].

"If you want the network to reach a value of $20 trillion or $200 trillion," Saylor explained, "you have to give asset managers like BlackRock, corporations like ours, and banks access to the network" ^[5].

MicroStrategy itself, as the world's largest corporate bitcoin holder, already holds 660,624 BTC worth $62 billion, representing 3.14 percent of all coins that will ever exist ^[5]. The company announced its latest bitcoin purchase just on Monday ^[5].

International Developments

Developments are not limited to the United States. In Japan, Animoca Brands and the protocol Solv are working on solutions to enable Japanese bitcoin treasury companies to generate returns between 4 and 12 percent ^[2]. In Japan, 11 listed companies already hold bitcoin on their balance sheets, led by Metaplanet with approximately 30,823 coins ^[2].