Strive Plans to Acquire $8B in Mt. Gox Bitcoin to Establish Treasury Reserve

Strive Enterprises has partnered with 117 Castell Advisory to acquire roughly 75,000 BTC from the Mt. Gox fund at a discounted price. The company is also preparing to merge with Asset Entities.
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Asset management firm Strive Enterprises, co-founded by former U.S. presidential candidate Vivek Ramaswamy, has announced its intention to acquire claims to approximately 75,000 BTC from the bankrupt crypto exchange Mt. Gox.
The market value of the assets is estimated at $8 billion, with the coins expected to be distributed to Mt. Gox creditors by Oct. 31, 2025. Strive plans to convert the recovered Bitcoin into a long-term treasury reserve. Moreover, the initiative is expected to culminate in a public listing via a planned merger with Asset Entities.
Claim Acquisition Details
Strive has partnered with 117 Castell Advisory Group LLC to assess and purchase claims backed by finalized court rulings. The bankrupt exchange Mt. Gox—whose 2014 collapse followed the theft of 750,000 BTC—remains of interest, as its remaining assets are yet to be distributed.
Related: Mt. Gox Moves Over $1 Billion in BTC — Is Repayment on the Way?
According to the filing, acquiring these claims would allow Strive to obtain Bitcoin at a discount, boosting BTC per share and enhancing the firm’s potential to outperform the asset itself.
“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,”
the document states.
Merger with Asset Entities and Public Listing
Strive has announced a planned merger with Asset Entities Inc., a company currently listed on Nasdaq. Pending shareholder approval, the deal will give Strive access to public capital, potentially accelerating its Bitcoin acquisition strategy.
The merger is expected to close in the second half of 2025. Post-merger, the combined entity will continue trading under the ticker ASST, with Strive holding a 94.2% equity stake and Asset Entities retaining 5.8%.
Strive’s Initiative: A Potential Market Stabilizer?
Market participants have voiced concerns that the large-scale distribution of Mt. Gox repayments could exert downward pressure on the Bitcoin price. Strive hopes to absorb a portion of that supply, reducing systemic risk while facilitating creditor payouts.
Ben Pham, chief financial officer at Strive, wrote on X:
“Strive intends to use all available mechanisms, including novel financial strategies not used by other Bitcoin treasury companies, to maximize its exposure to Bitcoin. We believe that Bitcoin is the hurdle rate and we intend to evaluate all corporate capital deployment on whether it outperforms Bitcoin.”
Related: Strive Presses Intuit to Reevaluate Crypto Policy and Adopt Bitcoin Reserve
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