Bitcoin advocate Ben Werkman appointed CIO at Strive

DALLAS - Strive, Inc. (NASDAQ:ASST), a Bitcoin-focused asset management firm with a market capitalization of $141 million and remarkable YTD returns of 430%, has appointed Bitcoin advocate Ben Werkman as Chief Investment Officer, the company announced Monday. Werkman will report directly to Chairman and CEO Matt Cole.

Werkman joins Strive from Swan Bitcoin, where he served as CIO focused on capital-raising initiatives. He previously founded NumerisX, a boutique Bitcoin treasury advisory firm, and spent over nine years at KPMG specializing in governance and corporate strategy. According to InvestingPro, Strive’s stock has shown impressive momentum, delivering a 413% return over the past six months.

In his new role, Werkman will oversee Strive’s investment strategy with emphasis on capital deployment, risk management frameworks, and advancing Bitcoin initiatives. He will also serve as a board observer.

"I’m thrilled to join Strive at this pivotal moment in Bitcoin’s history where digital credit is emerging as the next frontier of corporate finance," Werkman said in the press release.

CEO Matt Cole expressed confidence in Werkman’s addition to the company’s Bitcoin treasury team, stating the appointment represents "a large talent boost" to the organization.

Strive describes itself as "the first publicly traded asset management Bitcoin treasury company" focused on increasing Bitcoin per share. Its subsidiary, Strive Asset Management, LLC, an SEC-registered investment adviser launched in August 2022, currently manages over $2 billion in assets. The company maintains a strong financial position with a current ratio of 4.74, as reported by InvestingPro, which offers additional insights and metrics for informed investment decisions.

The company’s announcement emphasized its goal to outperform Bitcoin over the long run through strategic decision making and communications.

The information in this article is based on a company press release.

In other recent news, Strive, Inc. reported preliminary financial data, revealing $108.6 million in cash and cash equivalents and ownership of 5,886 bitcoins, acquired at an average cost of $116,053 per bitcoin. The company also disclosed the sale of over 10 million shares of its Class A Common Stock, raising funds to bolster cash reserves. Strive is planning to issue a perpetual preferred equity security in 2025. In another development, Strive completed its merger with Asset Entities, raising $750 million in equity financing, with the potential for an additional $750 million from warrants. This merger was a significant step following shareholder approval, aiming to establish Strive as a leading public Bitcoin Treasury Company.

Strive also filed financial statements and pro forma data for its pending acquisition of Semler Scientific, a merger unanimously approved by both companies’ boards. Meanwhile, Semler Scientific secured a $20 million loan from Coinbase Credit Inc., collateralized by its Bitcoin holdings, with a 10% interest rate and a maturity date set for March 2026. These recent developments highlight Strive’s strategic financial maneuvers and its focus on expanding its operations through mergers and financial restructuring.

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