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Strive, led by Vivek Ramaswamy, seeks discounted Bitcoin by acquiring distressed claims, including Mt. Gox’s 75,000 BTC.
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The firm has entered a strategic partnership to purchase Bitcoin from sources with pending distribution, aiming to enhance Bitcoin per share.
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Mt. Gox, still reimbursing creditors, holds Bitcoin that Strive hopes to acquire, but the plan’s success remains uncertain.
Strive aims to secure discounted Bitcoin through strategic partnerships, hoping to acquire assets from Mt. Gox amid creditor reimbursements.
Can Strive Buy Bitcoin at a Discount?
Since the rise of institutional interest in Bitcoin, firms have started to follow similar strategies aimed at creating their own BTC reserves. Strive is working to achieve this by acquiring Bitcoin assets from overlooked sources, including Mt. Gox.
According to recent SEC filings, Strive is actively evaluating potential sources for distressed Bitcoin claims, including the assets held by Mt. Gox.
“On May 20, 2025, Strive announced that it has entered into a strategic partnership to source and evaluate distressed Bitcoin claims that have received definitive legal judgments but remain pending distribution. This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share,” the filing claimed.
This partnership is in collaboration with 117 Castell Advisory Group LLC, a relatively new player in the digital space. Though based in Georgia, there is limited information about the firm, and its involvement mainly revolves around this partnership, formed just last month.
Mt. Gox, once a preeminent cryptocurrency exchange, still possesses a significant amount of Bitcoin as it continues to repay creditors. Current estimates indicate that Mt. Gox retains approximately 75,000 BTC, creating an appealing opportunity for Strive as they seek to grow their portfolio.
In addition to Mt. Gox, Strive is exploring other potential sources for distressed Bitcoin assets that may share similar characteristics.
Vivek Ramaswamy, a prominent figure in both business and political spheres, founded Strive, a firm that advocates for responsible cryptocurrency investments. He previously filed to create a Bitcoin Bond ETF last December, underlining Strive’s commitment to Bitcoin engagement.
Since early May, Strive’s strategic shift toward becoming a Bitcoin-centered firm has involved plans to invest significantly in BTC acquisitions.
Recently, Strive enhanced its operational capabilities, merging with Asset in mid-May to better position itself in the competitive digital asset landscape.
With heavyweights like MicroStrategy and Metaplanet in the Bitcoin holding space, Strive faces considerable challenges if it plans to establish a reputable presence.
While Strive has not publicly shared in-depth details about its acquisition strategies, the ongoing reimbursement process at Mt. Gox complicates any immediate buying prospects.
Despite extensive legal disclosures, Bitcoin takes a backseat in most filings, indicating that strategic specifics remain closely guarded. Both Strive and Ramaswamy have yet to clarify their acquisition methods.
The potential for Strive to secure Bitcoin at a discount presents a significant, albeit uncertain, opportunity. The outcome of this ambitious initiative hangs in the balance, as market dynamics and creditor negotiations play a crucial role in determining if Strive can capitalize on this unique market condition.
Conclusion
In summary, Strive’s pursuit of discounted Bitcoin through strategic partnerships highlights a growing trend in institutional cryptocurrency investments. While challenges abound, particularly regarding the uncertainties surrounding Mt. Gox’s creditor repayments, the outcome could redefine Strive’s position in the market. For now, observers remain keenly interested in how these developments will unfold, offering valuable insights into the evolving landscape of cryptocurrency assets.
