Strive Plans to Buy 75,000 Bitcoins Through Mt. Gox Claims to Establish a Bitcoin Reserve

Highlights:

• Strive eyes 75K Bitcoin claims linked to Mt. Gox, which have legal approval but are not yet paid out.
• The company aims to purchase these distressed Bitcoin claims at a lower price before distribution begins.
• The growing trend shows firms adding Bitcoin treasuries amid economic uncertainty and credit downgrades.

Strive Asset Management, the company co-founded by Vivek Ramaswamy, plans to increase its Bitcoin holdings by buying distressed Bitcoin (BTC) claims at discounted prices. The company is focusing on claims tied to 75K BTC from the bankrupt Mt. Gox exchange.

Advertisement

In a regulatory filing dated May 20, Strive revealed a partnership with 117 Castell Advisory Group LLC. They aim to acquire Bitcoin claims that have received final legal approval but are still waiting to be distributed. Strive stated that this move will increase its Bitcoin-per-share ratio ahead of its planned reverse merger with Asset Entities (ASST), which is expected to be completed by mid-year.

JUST IN: 🇺🇸 Vivek Ramaswamy's Strive plans to buy #Bitcoin exposure at a discount

“Such as those from the Mt. Gox estate, which total approximately 75,000 BTC” 👀 pic.twitter.com/XTad64cyph

— Bitcoin Magazine (@BitcoinMagazine) May 20, 2025

Strive recently revealed a plan to join with ASST. This will form a public company focused on managing Bitcoin investments. The goal is to be part of the growing group of firms holding Bitcoin as a key asset. Strive’s Bitcoin buying follows firms like Strategy and Metaplanet.

Strive’s Move to Buy Mt. Gox BTC Claims Ahead of Payout Deadline

Mt. Gox used to be the biggest Bitcoin exchange in Japan. In 2014, it shut down after losing over 800,000 Bitcoin because of a security hack. This caused many years of legal fights and talks with people who lost their Bitcoin. Soon, the Mt. Gox estate will give out about 75,000 Bitcoin to people who are owed. Strive wants to buy the rights to these lost Bitcoin claims before the money is paid out.

When Mt. Gox collapsed, many people made legal claims to get their Bitcoin back. These claims are promises to pay BTC later. Some holders want cash now instead of waiting. Strive offers to buy these claims at a discount. This means Strive pays less money now but gets the full Bitcoin later.

Strive needs approval from its shareholders to go after the Mt. Gox claims. It will file details of the deal with the U.S. Securities and Exchange Commission (SEC). Following this, the company will seek shareholder approval for the plan by sending out a proxy statement. Mt. Gox is expected to complete repayment to its creditors by October 31.

Growing Trend of Companies Building Bitcoin Treasuries

Strive’s shift to becoming a BTC treasury company follows a growing trend in the industry. Many firms are now adding Bitcoin to their balance sheets as a long-term investment. Demand for Bitcoin increased even more after Moody’s downgraded the US credit rating over rising debt worries. Last week, two Nasdaq-listed companies made big announcements about buying large amounts of Bitcoin. 

Basel Medical Group Ltd (Nasdaq: BMGL) said it is in exclusive talks to acquire $1 billion worth of Bitcoin, showing a major shift in its financial approach. Meanwhile, Singapore-based DigiAsia revealed plans to initially purchase $100 million worth of Bitcoin. The company is committed to using up to half of its future profits to buy more Bitcoin. Another new company, Twenty One Capital, has also joined this market. Supported by investors like SoftBank, and Cantor Fitzgerald, Tether, the company aims to start with 42,000 Bitcoin after finishing a blank-check merger with Cantor Equity Partners.

Advertisement