TLDR
- Strive announced a plan to acquire distressed Bitcoin claims through a partnership with 117 Castell Advisory Group.
- The firm is targeting legally settled but undistributed Bitcoin claims including around 75,000 BTC from the Mt. Gox estate.
- Strive aims to enhance its Bitcoin-per-share value by purchasing these claims below market price.
- The move is part of Strive’s broader strategy to gain value-driven exposure to digital assets.
- The company has linked this acquisition plan to a proposed merger with Asset Entities Inc.
Strive has announced a move to purchase distressed Bitcoin claims through a new partnership with 117 Castell Advisory Group. The firm aims to secure discounted exposure to Bitcoin assets, including claims related to the Mt. Gox bankruptcy. This approach supports Strive’s broader goal to enhance its investment product performance through crypto credit market inefficiencies.
Strive is targeting legally settled Bitcoin claims that have not yet been distributed, including approximately 75,000 BTC from Mt. Gox. By purchasing these claims below market value, Strive expects to improve its Bitcoin-per-share metric significantly. The strategy also aligns with the company’s plan to deliver consistent long-term returns relative to the Bitcoin market.
This announcement marks another strategic shift under Matt Cole’s leadership, who succeeded founder Vivek Ramaswamy in 2023. The move indicates a clear shift toward a value-driven approach focused on underpriced digital assets. Strive continues to frame the initiative as a practical way to gain Bitcoin access without paying spot prices.
Strive Plans Discounted Mt. Gox Purchase
Strive, in collaboration with 117 Castell, is focusing on claims arising from the 2014 collapse of Mt. Gox. The defunct exchange lost over 800,000 BTC due to security breaches, prompting years of legal proceedings and creditor negotiations. Strive plans to buy eligible claims before distributions begin, positioning for favorable pricing.
The Mt. Gox estate is expected to release roughly 75,000 BTC in the coming months to qualified creditors. Strive aims to intercept these claims from current holders seeking liquidity before final distribution. This tactic allows the firm to capitalize on discounted opportunities in a legacy crypto case.
The claims have already been resolved through legal channels, so Strive faces minimal regulatory hurdles in acquisition. This makes the Mt. Gox claims particularly attractive for structured purchases with predictable outcomes. Strive’s filing states these assets will be directed toward its investment vehicles for enhanced crypto exposure.
Strive Aims for Bitcoin Treasury Leadership
Strive’s Bitcoin claim acquisition plan forms part of a larger corporate strategy, including a pending merger with Asset Entities Inc. The SEC filing confirms that ASST will issue new shares, enhancing Strive’s access to public capital markets. The combined entity aims to increase operational scale and reach.
Following the merger, Strive intends to become the first public asset manager with Bitcoin on its balance sheet. This move supports its strategy to integrate digital assets into its core financial infrastructure. Under Matt Cole, Strive has expanded into wealth management and restructured its portfolio model.
Although Ramaswamy no longer holds an executive role, Strive continues to operate under principles he originally established. The company maintains its stance against ESG-linked priorities while focusing on financial performance.
