{"id":129663,"date":"2025-05-21T01:15:38","date_gmt":"2025-05-21T01:15:38","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=129663"},"modified":"2025-05-21T01:15:38","modified_gmt":"2025-05-21T01:15:38","slug":"strive-targets-75000-bitcoin-from-mt-gox-claims-to-build-bitcoin-treasury","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=129663","title":{"rendered":"Strive targets 75,000 Bitcoin from Mt. Gox claims to build Bitcoin treasury"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsVivek Ramaswamy\u2019s Strive is looking to build its Bitcoin holdings by purchasing distressed Bitcoin claims at a discount, starting with claims tied to 75,000 Bitcoin at the bankrupt crypto exchange Mt. Gox.<br \/>\nStrive said in a May 20 regulatory filing that it partnered with 117 Castell Advisory Group LLC to target claims to Bitcoin (BTC) that have received definitive legal rulings but are still awaiting distribution.<br \/>\nThe company said buying the claims would allow it to purchase Bitcoin at a discount and grow its Bitcoin per share ratio ahead of its planned reverse merger with Asset Entities \u2014 which is expected to be completed sometime mid this year.<br \/>\nStrive hasn\u2019t disclosed any Bitcoin holdings but claims it will face fewer restrictions on purchasing Bitcoin than companies going public through Special Purpose Acquisition Company mergers.<br \/>\nAdvantages of going public via a reverse merger compared with a SPAC merger. Source: StriveStrive said it would need shareholder approval to pursue Mt. Gox claims. The company said it intends to lodge a filing with the Securities and Exchange Commission to outline the full terms of the proposed transaction. A proxy statement would then be sent to shareholders to seek their approval.<br \/>\nStrive would need to obtain shareholder approval relatively soon, as Mt. Gox is expected to fully repay its creditors by Oct. 31.<br \/>\nThe Japan-based Mt. Gox was the largest Bitcoin exchange before it collapsed in 2014 from a security breach that resulted in the theft of approximately 750,000 Bitcoin.<br \/>\nStrive\u2019s pivot to become a Bitcoin treasury company reflects a broader industry trend as more firms look to hold Bitcoin on their balance sheets as a long-term strategic asset.<br \/>\nRelated: Bitcoin ETFs bought 6x more than BTC miners produced last week<br \/>\nTwenty One Capital is another newly launched Bitcoin treasury firm that has received backing from the likes of Tether, SoftBank and Cantor Fitzgerald. The Jack Mallers-led firm plans to launch with 42,000 Bitcoin once it completes a blank-check merger with Cantor Equity Partners.<br \/>\nAsset Entities shares rise again on Mt. Gox plans<br \/>\nAsset Entities (ASST), a social media marketing company that Strive announced it would merge with on May 7 to create a Bitcoin investment company, has seen its shares close May 20 trading up 18.2% to $7.74, Google Finance data shows.<br \/>\nThe latest share price bump brings its market cap to $122.1 million, and ASST is now up 1,170% since Strive announced its merger plan.<br \/>\nStrive is expected to own 94.2% of the combined entity once the reverse merger is complete, while Asset Entities will hold the remaining 5.8%.<br \/>\nThe merged companies will be named Strive and Asset Entities, and will still trade under the ASST ticker.<br \/>\nMagazine: Danger signs for Bitcoin as retail abandons it to institutions: Sky Wee<a href=\"https:\/\/cointelegraph.com\/news\/strive-targets-75000-bitcoin-in-mt-gox-claims?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsVivek Ramaswamy\u2019s Strive is looking to build its Bitcoin holdings by purchasing distressed Bitcoin claims at a discount, starting with claims tied to 75,000 Bitcoin at the bankrupt&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129663"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=129663"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/129663\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=129663"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=129663"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=129663"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}