Strive Shares Sink on Board Disclosure; Bitcoin Treasury Strategy

By Connor Hart

Shares of Strive fell after the company disclosed its full board of directors, detailed its bitcoin treasury strategy and implemented a stock repurchase program of up to $500 million.

The stock tumbled 17% to $7.03 in midday trading Monday.

Strive, which was formed last week following Asset Entities merger with Strive Enterprises, the investment firm co-founded by Vivek Ramaswamy, said before the bell that its board would be composed of "experienced bitcoin executives" including Shirish Jajodia, Ben Werkman, Pierre Rochard, James Lavish and Avik Roy.

"We intentionally put together this team to enable Strive to lead with an unwavering focus on Bitcoin accumulation, strategic decision making, and fiduciary duty in service of our mission to increase Bitcoin per share and outperform Bitcoin over the long run," Chief Executive Matt Cole said.

Strive also disclosed both a $450 million at-the-market offering, in addition to a $500 million stock repurchase program, which it said will help to maintain maximum balance sheet flexibility in increasing bitcoin per share.

The company has raised $750 million in financing with up to an additional $750 million in financing from warrants over the first 12 months, it said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

September 15, 2025 12:43 ET (16:43 GMT)