Exchange BTC for stocks tax-free? Strive merges with a Bitcoin asset company, and ASS jumped 455% on the same day.

Strive Asset Management, co-founded by Vivek Ramaswamy, plans to merge with Asset Entities to form a publicly traded Bitcoin asset management company. In addition to leveraging its advantages in community management through Discord and other online platforms, Asset Entities plans to issue $1 billion in equity and bonds to establish a large-scale Bitcoin reserve and allow investors to exchange Bitcoin for company stock using the tax-free mechanism under Section 351 of the U.S. tax code. Following the announcement, ASS surged 455% to $3.39.

The asset management company Strive founded by Vivek Ramaswamy

Strive Asset Management is an asset management company established in 2022, headquartered in Ohio, USA. Its parent company, Strive Enterprises, Inc., was co-founded by Vivek Ramaswamy and Anson Frericks.

According to information from Morningstar, Strive currently manages 13 funds with a total assets under management of approximately $1.97 billion. Their fund fees are relatively low, demonstrating their commitment to maximizing investor returns.

Strive submitted an application to the United States Securities and Exchange Commission (SEC) for the Strive Bitcoin Bond ETF at the end of last year. This ETF will track convertible bonds issued for the purchase of Bitcoin, essentially a microstrategy convertible bond ETF. However, it currently appears to have not been successfully listed.

( Do you want to buy MicroStrategy convertible bonds? Strive plans to launch a Bitcoin strategy company's convertible bond ETF )

After the merger, its parent company Strive Enterprises, Inc. will continue to operate as a private holding company and will expand its wealth management business. Before considering Bitcoin stock exchanges and any additional financing, Strive Enterprises will hold approximately 94.2% of the shares of the listed company, while the original shareholders of Asset Entities will hold the remaining 5.8% of the shares. Financing will proportionally dilute the equity of Strive Enterprises and Asset Entities shareholders.

Merge ASS, use the existing digital marketing model to manage the community

Digital marketing and content delivery service provider Asset Entities Inc. (Ticker: ASST) announced that it has reached a final merger agreement with Strive Asset Management. The merged company will operate under the Strive brand, continue to be listed on NASDAQ, and become a publicly traded Bitcoin reserve strategy company.

The existing Discord and other online platforms of Asset Entities also provide advantages for community management, promoting education, participation, and adoption of Bitcoin-centered financial models in a unique way.

Raising one billion dollars to buy Bitcoin, and allowing investors to directly exchange shares for BTC to achieve tax-saving functions.

Asset Entities plans to issue $1 billion in equity and bonds to establish a large-scale Bitcoin reserve, and through the tax exemption mechanism of Section 351 of the U.S. tax code, allows investors to exchange Bitcoin for company stock.

Strive CEO Matt Cole stated at the Strategy World conference:

We all know that Bitcoin will soon be going to the moon. This means that the large profits held by OG Bitcoin holders must pay tax on the gains to the IRS. We can achieve this in a tax-free manner after the completion of this merger.

In the United States tax system, digital assets are considered property, and the income generated from them is subject to taxation. This includes received digital assets or the ownership of digital assets that are sold or disposed of, regardless of whether taxable gains or losses are realized, which must be reported annually to the IRS. According to previous reports, an early Bitcoin investor was convicted of tax fraud for failing to report Bitcoin capital gains tax, resulting in a two-year prison sentence and being ordered to disclose his private keys so that U.S. officials could unlock Bitcoin currently worth approximately $124 million.

( failed to accurately report cryptocurrency taxes, early Bitcoin investors were sentenced and required to hand over their private keys (.

ASS big pump 455%

The merged company will operate under the Strive brand and continue to be listed on Nasdaq with the stock code ASST. Following the announcement, ASST directly experienced a big pump of 455% to $3.39.

This article discusses whether BTC can be exchanged for stocks tax-free? Strive merges with a Bitcoin asset company, and ASS jumped 455% on the same day, first appearing in Chain News ABMedia.