Strive Pursues $8 Billion Bitcoin Acquisition From Mt Gox

Vivek Ramaswamy’s Strive is actively pursuing the acquisition of 75,000 Bitcoin, valued at slightly over $8 billion, from claims related to the defunct Mt. Gox exchange bankruptcy. This strategic move is aimed at purchasing Bitcoin at a discounted price, which would enhance the Bitcoin per share value and support the company's long-term goal of outperforming Bitcoin.

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 has stated that it requires shareholder approval to proceed with the acquisition of Mt. Gox claims. Additionally, Strive plans to 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’s strategic transaction is intended to build a Bitcoin treasury. Earlier this month, the asset management firm revealed a blueprint to stockpile Bitcoin through a merger. During the Bitcoin For Corporations event at Strategy World 2025, the firm announced plans to merge with NASDAQ-listed Asset Entities to form a public Bitcoin Treasury Company. Strive Asset Management believes that the best current opportunity to maximize long-run value for corporations is to build a war chest of Bitcoin. Buying the Bitcoin claims would also increase Strive’s BTC per share ratio ahead of the planned reverse merger with Asset Entities.

Strive’s initiative to become a Bitcoin treasury firm aligns with the growing institutional interest in the largest cryptocurrency. Recently, Twenty One Capital, led by Jack Mallers, announced that it would hold over 42,000 Bitcoin at launch. The new Bitcoin treasury firm is backed by Tether and SoftBank Group.

Strive is required to obtain shareholder approval soon, as Mt. Gox plans to fully repay its creditors by October 2025. The bankrupt exchange, 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.