Stock skyrockets 1100% after Bitcoin treasury merger
The price went from under $0.53 to a $8.62 stock price as of May 9. The stock price of Asset Entities has also jumped 12.09% in just 24 hours, reflecting the renewed investor confidence.
From the beginning of the year, the stock was trading around $0.53 and has since reached $8.6, an increase of more than $8 per share in just a few days.
The sudden vertical spike on the year-to-date (YTD) chart demonstrates that this was a rally nearly entirely related to the company's change to the first publicly traded Bitcoin treasury vehicle after the merger with Strive.
To put this into perspective, if you had invested $1,000 into ASST at the start of 2025, that investment would now be worth more than $16,000. Investors who had purchased before the announcement of the merger saw returns of over 1,000% in five trading sessions.
The massive rise came after the news of Asset Entities merger with Strive Asset Management. The merger will now make it the world's first-ever Bitcoin treasury company.
The merger, announced earlier this week, will yield a new company called Strive, which will oversee more than $2 billion in assets and make aggressive plans to acquire Bitcoin.
The resulting company will subsequently trade on the NASDAQ and be led by Matt Cole as CEO, a former fixed-income fund manager who managed a $70 billion portfolio.
Strive is looking to take a bold approach under Cole's leadership and plans to create a Bitcoin-for-equity tax-free exchange for investors using the IRS's tax code Section 351 to defer capital gains taxes.
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