Strive Asset Management, led by entrepreneur Vivek Ramaswamy, secured $750 million in private backing to build a significant Bitcoin stockpile.
The fund plans to raise up to $1.5 billion if all warrants are exercised, putting them in the league of top treasury Bitcoin buyers.
Strive intends to engage in active trading strategies in addition to holding Bitcoin, potentially trading between spot and futures markets to boost returns.
The firm faces tough competition as other players like Strategy and a business linked to US President Donald Trump aggressively accumulate Bitcoin, while also eyeing distressed Bitcoin claims from old bankruptcies.