Ramaswamy's Strive eyes 75,000 BTC in Mt. Gox claims amid Bitcoin treasury push

Strive Enterprises, an asset manager co-founded by Vivek Ramaswamy, is exploring the acquisition of distressed Bitcoin claims — including 75,000 BTC from the Mt. Gox estate — as it moves to build a bitcoin treasury with a planned merger with Asset Entities.

In a Tuesday filing with the Securities and Exchange Commission, Strive said it has partnered with 117 Castell Advisory Group to "source and evaluate" distressed Bitcoin claims with confirmed legal judgments. The claims include around 75,000 BTC tied to the Mt. Gox estate, worth about $8 billion based on current market prices.

Mt. Gox,  a defunct crypto exchange that collapsed in 2014, is currently in the process of repaying creditors with a deadline of Oct. 31, 2025. 

"This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run," Strive said in the filing.

Strive noted that Asset Entities, a Nasdaq-listed company that Strive is merging with, plans to seek stakeholders' approval by sending a proxy statement and prospectus about the proposed deal.

Earlier this month, Strive announced its plan to merge with Asset Entities in a deal that would create the first publicly traded Bitcoin-focused asset management firm. The combined company aims to join the growing ranks of corporations with a Bitcoin treasury strategy.

Strive's push to accumulate Bitcoin mirrors that of companies like Strategy and Japan's Metaplanet. Strategy, led by Michael Saylor, said Monday that it purchased another 7,390 BTC for $764.9 million, raising its total holdings to 576,230 BTC. That same day, Metaplanet announced it had acquired another 1,004 BTC, boosting its total to 7,800 BTC.