New York Hedge Fund Invests in Strive: A $125K Bitcoin-Linked Acquisition
First New York Hedge Fund Acquires Bitcoin-Linked Shares in Strive
FNY Investment Advisers, LLC, a prominent multi-strategy hedge fund based in New York, has recently revealed its acquisition of 160,000 shares in Strive (ASST). This development marks a notable Bitcoin-linked investment for the firm.
With Strive shares closing at approximately $0.78, the stake held by First New York is valued at over $125,000, surpassing the initial acquisition cost of around $118,000.
Strive, an asset management company with a focus on Bitcoin, is supported by Vivek Ramaswamy. The firm plans to raise $150 million through a follow-on offering of its SATA preferred stock. The capital will be used to increase Bitcoin holdings, reduce debt, and drive corporate expansion.
This strategic move follows Strive's acquisition of Semler Scientific, finalized on January 16. The acquisition added over 5,000 BTC to Strive’s treasury, elevating total holdings to approximately 12,798 BTC.
Strive now ranks as the 11th largest corporate Bitcoin holder, surpassing notable companies such as Tesla and Trump Media & Technology Group.