Strive Asset Management, co-founded by entrepreneur Vivek Ramaswamy, has unveiled an ambitious plan to expand its Bitcoin holdings by acquiring distressed Bitcoin claims linked to the infamous Mt. Gox bankruptcy.
This move aims to build a 75,000 BTC treasury, positioning Strive as a major corporate Bitcoin holder amid increasing global economic uncertainty.
$ASST Strategic partnership to source and evaluate distressed Bitcoin claims (approximately 75,000 BTC). This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share:https://t.co/gC1AwaNOPx pic.twitter.com/CTw5kkuxas
— SEC Filing Tracker (@FilingsTracker) May 20, 2025
In a recent SEC filing dated May 20, Strive disclosed its partnership with 117 Castell Advisory Group LLC to purchase Mt. Gox Bitcoin claims that have been legally recognized but remain undistributed. These claims represent Bitcoin that creditors are owed following the 2014 Mt. Gox exchange collapse. By acquiring these claims at a discount, Strive plans to grow its Bitcoin treasury more cost-effectively.
This strategy is part of Strive’s broader plan to boost its Bitcoin-per-share ratio ahead of its anticipated reverse merger with Asset Entities (ASST), a social media marketing firm. The merger, expected to close by mid-2025, will transform the combined company into a dedicated Bitcoin investment entity. Strive is currently seeking shareholder approval and will file detailed transaction terms with the SEC before proceeding. Given Mt. Gox’s deadline to repay creditors by October 31, Strive aims to finalize approvals promptly.
Following the merger announcement, Asset Entities’ stock price has surged dramatically—up 1,170%—reaching a market capitalization of $122.1 million. On May 20 alone, shares rose 18.2%, reflecting investor enthusiasm about the firm’s pivot toward Bitcoin investment through the merger with Strive.
Strive’s move comes amid a broader trend of corporations increasing Bitcoin exposure as a hedge against economic instability. Moody’s recent downgrade of the U.S. credit rating, citing rising national debt, has intensified interest in Bitcoin as a potential safe haven asset.
Notably, Nasdaq-listed Basel Medical Group Ltd (BMGL) is negotiating a $1 billion Bitcoin acquisition, signalling a major strategic shift. Meanwhile, Singapore-based DigiAsia plans an initial $100 million Bitcoin purchase, with intentions to allocate up to 50% of future net profits toward Bitcoin acquisition. DigiAsia also aims to generate returns through lending, staking, and crypto-linked financial products.
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