Strive, an asset manager founded by Vivek Ramaswamy, raised $750 million for 'alpha-generating' strategies through Bitcoin-related purchases.
The strategies will involve buying undervalued biotech companies, distressed Bitcoin claims, and bottom tranches of Bitcoin credit vehicles at discounted prices.
The $750 million raise may double to $1.5 billion and could make Strive the fifth-largest Bitcoin treasury company.
Strive's CEO mentioned that the focus is on sustained outperformance relative to Bitcoin itself, with new valuation frameworks in place.