Strive Eyes 75,000 BTC from Mt. Gox Claims for Bitcoin Treasury

Strive plans to acquire discounted Mt. Gox claims for 75,000 Bitcoin. The move strengthens its crypto treasury before the upcoming reverse merger with Asset Entities.

Strive targets distressed BTC claims from Mt. Gox

Vivek Ramaswamy’s Strive is building a strategic Bitcoin treasury by purchasing distressed Mt. Gox claims. According to a May 20 filing, Strive teamed up with 117 Castell Advisory Group to acquire legal claims worth 75,000 BTC.

These claims have received legal validation but are still awaiting distribution. By purchasing them at a discount, Strive aims to boost its Bitcoin-per-share ratio, which will be crucial during its planned reverse merger with Asset Entities.

Merger with Asset Entities and investor approval plans

Strive needs shareholder approval to finalize the acquisition. The company intends to file documentation with the SEC and seek proxy votes from investors. Mt. Gox, which collapsed in 2014, is expected to repay creditors by October 31, 2025.

Strive’s strategy mirrors a growing trend as companies adopt Bitcoin for long-term treasury growth. Another example is Twenty One Capital, which plans to launch with 42,000 BTC, backed by SoftBank and Tether.

Following these announcements, Asset Entities (ASST) shares surged 18.2% to $7.74, raising its market cap to $122 million. The merged company will continue trading under the ASST ticker, with Strive owning 94.2% of the combined entity.