Aug 28, 10:14 AM

Strive Funds Targets $700 Million Bitcoin Buy After IPO

Asset-manager Strive Funds plans to acquire more than $700 million worth of Bitcoin once it completes its initial public offering, Chief Executive Officer Matt Cole said on Thursday. Strive, which manages about $2 billion and was co-founded by entrepreneur and former U.S. presidential candidate Vivek Ramaswamy, is pressing ahead with the move as part of a broader strategy to add digital assets to its balance sheet. Cole did not specify the timing of the purchase, but indicated it would follow shortly after the company lists.