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cryptonews 2025-05-21 06:23:33

Vivek Ramaswamy’s Strive to Scoop Distressed Bitcoin Claims from Mt. Gox, Plans BTC Treasury

Vivek Ramaswamy’s Strive to Scoop Distressed Bitcoin Claims from Mt. Gox, Plans BTC Treasury

Vivek Ramaswamy’s Strive is seeking to acquire 75,000 Bitcoin, valued slightly over $8 billion, from claims related to the defunct Mt. Gox exchange bankruptcy. In a May 20 regulatory filing , Strive noted that the strategy is intended to purchase Bitcoin at a discount price. It enhances Bitcoin per share and supports the goal of outperforming Bitcoin over the long run, the company filing noted. Further, Strive has partnered with 117 Castell Advisory Group, “to source and evaluate” Bitcoin claims that have received definitive legal judgments and are pending distribution. The company said that it requires shareholder approval to proceed with Mt. Gox claims. Besides, Strive would file a Form S-4 registration with the Securities and Exchange Commission (SEC) to present the full terms of the proposed transaction. After the filing, shareholders will receive a proxy statement to vote on the acquisition. Strive to Build Bitcoin Treasury Strive noted that the strategic transaction will allow the firm to build Bitcoin treasury. Early this month, the asset management firm revealed a blueprint to stockpile Bitcoin with a merger. During Bitcoin For Corporations at Strategy World 2025, the firm noted that it will merge with NASDAQ-listed Asset Entities to form a public Bitcoin Treasury Company. “Strive Asset Management believes the best current opportunity to maximize long-run value for corporations is to build a war chest of Bitcoin,” the company said in a detailed presentation . Furthermore, buying the Bitcoin claims would grow Strive’s BTC per share ratio ahead of the planned reverse merger with Asset Entities. Source: Strive Strive’s move to become a Bitcoin treasury firm comes as there is an institutional pivot towards the largest crypto. Recently, Jack Mallers-led firm, Twenty One Capital , said that it would hold over 42,000 Bitcoin at launch. The new Bitcoin treasury firm is backed by Tether and SoftBank Group. Mt. Gox to Repay Creditors by October The company is required to obtain shareholder approval soon, since Mt. Gox is planning to fully repay its creditors by October 2025 . The bankrupt exchange, which was once the largest Bitcoin exchange processing most global BTC trades, extended the deadline for its creditor repayment after a Tokyo court assigned a trustee to oversee the distribution of remaining assets to creditors. Mt. Gox collapsed in 2014 following a massive security breach, leading to the loss of 950,000 BTC, a sum valued at over $102 billion today. The post Vivek Ramaswamy’s Strive to Scoop Distressed Bitcoin Claims from Mt. Gox, Plans BTC Treasury appeared first on Cryptonews .

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