Ramaswami’s Strive raises $750M for ‘alpha-generating’ Bitcoin buy strategy
If the associated warrants are exercised, Strive could raise an additional $750 million and bring its total Bitcoin purchasing power to $1.5 billion.
Strive, an asset manager founded by American entrepreneur and politician Vivek Ramaswamy, has announced a $750 million raise to establish “alpha-generating” strategies through Bitcoin-related purchases.
According to a May 27 announcement, the strategies will include buying undervalued biotech companies, purchasing “distressed Bitcoin claims” like those associated with crypto hacks and bankruptcies, and acquiring bottom tranches of Bitcoin credit vehicles at discounted prices.
“ […] our alpha-generating Bitcoin accumulation strategies are designed to drive sustained outperformance relative to Bitcoin itself, which requires a new valuation framework,” Strive CEO Matt Cole said.
