Strive, the asset management firm co-founded by Vivek Ramaswamy, is aiming to acquire a substantial 75,000 Bitcoin from claims associated with the bankruptcy of the now-defunct Mt. Gox exchange. This acquisition is valued at over $8 billion.
In a regulatory filing dated May 20, Strive outlined its strategy to purchase these Bitcoins at a favorable discount. The move is designed to enhance Bitcoin holdings per share, aligning with the company’s objective of outperforming Bitcoin over an extended period.
To facilitate the acquisition, Strive has formed a partnership with 117 Castell Advisory Group. This collaboration aims to source and assess Bitcoin claims that have secured definitive legal judgments and are awaiting distribution to claimants.
The firm has indicated that it must secure shareholder approval in order to move forward with the Mt. Gox claims. Additionally, Strive plans to file a Form S-4 registration with the Securities and Exchange Commission (SEC) to disclose the full terms of the proposed transaction, which will include a proxy statement for shareholders’ vote on the acquisition.
Strive to Build Bitcoin Treasury
Strive articulated that the strategic acquisition would allow it to establish a Bitcoin treasury.
Earlier this month, the asset management company revealed its intention to amass Bitcoin through a merger. During the Bitcoin For Corporations event at Strategy World 2025, Strive announced plans to merge with NASDAQ-listed Asset Entities to create a public Bitcoin Treasury Company.
“Strive Asset Management believes that building a substantial Bitcoin reserve is the optimal path to maximize long-term value for corporations,” the firm stated in its presentation.
Moreover, the acquisition of Bitcoin claims is expected to boost Strive’s BTC per share ratio ahead of the anticipated reverse merger with Asset Entities.
As institutional interest in Bitcoin grows, Strive’s focus on becoming a Bitcoin treasury firm mirrors a larger trend in the market. Recently, Jack Mallers-led firm, Twenty One Capital, announced it would hold more than 42,000 Bitcoin upon launch, supported by Tether and the SoftBank Group.
Mt. Gox to Repay Creditors by October
With Mt. Gox scheduled to repay its creditors by October 2025, Strive needs to secure shareholder approval promptly.
The once-dominant Bitcoin exchange, which facilitated the majority of global BTC transactions, had previously extended its repayment deadline due to the appointment of a trustee by a Tokyo court to manage the distribution of remaining assets to creditors.
Mt. Gox declared bankruptcy in 2014 following a significant security breach that resulted in the loss of 950,000 BTC, a figure that would amount to over $102 billion today.
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