Vivek Ramaswamy's Strive Asset Management is set to go public through a merger with Asset Entities (NASDAQ: ASST), forming the first publicly traded asset management Bitcoin treasury company. The firm plans to raise $1 billion to purchase Bitcoin, with an initial commitment to buy $1 billion worth. This announcement has led to a dramatic increase in ASST stock price, which surged over 400% amid multiple trading halts on May 7, 2025. The stock has become increasingly difficult to short, with limited shares available for borrowing, suggesting a potential short squeeze. Strive Asset Management aims to leverage its $2 billion capital to establish a significant presence in the Bitcoin investment space.

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