Asset Entities, Inc. ( ASST ) stock has soared over the last month, up over 1,480% as of Wednesday.

What To Know: The stock’s surge started after Asset announced that it entered into a merger agreement with Strive Asset Management to form a Bitcoin treasury company.

Strive is developing a long-term strategy aimed at outperforming Bitcoin, saying it will use every available mechanism to reach that goal. The company plans to rely on proprietary approaches to accumulate Bitcoin in ways it believes will create lasting value.

One example is a tax-free equity-for-Bitcoin exchange under Section 351 of the U.S. tax code.

Strive also expects the reverse merger structure to grant quick access to a shelf registration, allowing it to raise capital more efficiently. After the merger closes, the company plans to expand the offering to $1 billion, funding Bitcoin purchases through a mix of stock and debt sales.

The combined company will operate under the Strive name and remain listed on the NASDAQ.

The stock has been halted multiple times over the last few weeks due to volatility.

Related Link: Bitcoin Whale Trader Ups The Ante To $1 Billion Position For $25 Million Unrealized Gain As BTC Sets All-Time High

ASST Price Action: At the time of writing, Asset shares are trading 6.46% higher at $8.24, according to data from Benzinga Pro.

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