- Strive CEO Matt Cole purchased over 515,000 shares of ASST during a price dip.
- The insider buy led to a notable increase in Strive’s stock price.
Shares of Strive Asset Management (ASST), the Bitcoin treasury company co-founded by Vivek Ramaswamy, jumped about 13% intraday on Tuesday after CEO Matt Cole disclosed a large insider purchase.
According to a new SEC filing, Cole acquired more than 515,000 ASST shares on December 15, including both direct purchases and shares held through affiliated entities, signaling increased executive confidence in the company’s future growth.
The acquisition took place amid Strive’s Monday low of $0.79. The stock rose to $0.89 after the move was revealed, per Yahoo Finance.
The Bitcoin treasury company, which focuses on asset management, is seeking up to $500 million through an ATM preferred stock offering to purchase more Bitcoin and related products. The funds will also support general corporate activities such as working capital, share repurchases, and debt repayment.
Strive currently holds approximately 7,525 Bitcoin valued at $660 million.