Strive Enterprises, a rising star in the asset management space co-founded by entrepreneur and political figure Vivek Ramaswamy, has taken a significant step toward becoming a major player in the cryptocurrency investment arena. In a bold move that could reshape the Bitcoin investment landscape, the company is targeting 75,000 BTC—worth approximately $8 billion—tied to the long-defunct Mt. Gox exchange.
This initiative comes as Strive works toward finalizing a merger with Asset Entities, a Nasdaq-listed company, in a deal that would establish the first publicly traded Bitcoin-focused asset management firm in the U.S.
According to a filing with the U.S. Securities and Exchange Commission (SEC) on Tuesday, Strive has entered into a partnership with 117 Castell Advisory Group. The goal: “source and evaluate” distressed Bitcoin claims that already have confirmed legal judgments. The centerpiece of this strategy is the Mt. Gox estate, which has become a treasure trove of Bitcoin for firms with the foresight—and the legal muscle—to navigate its complex rehabilitation proceedings.
Mt. Gox, once the world’s largest cryptocurrency exchange, filed for bankruptcy in 2014 after a massive hack led to the loss of hundreds of thousands of BTC. Creditors have been waiting for over a decade for repayment, with the final deadline for distribution set for October 31, 2025.
Strive’s move could allow it to gain exposure to Bitcoin at a discount, something the company says will enhance Bitcoin per share metrics for shareholders and position it to outperform Bitcoin itself over the long run.
Strive’s merger with Asset Entities isn’t just a financial maneuver—it’s a strategic leap. Once finalized, the combined company would become the first public asset manager in the U.S. with a sole focus on Bitcoin, putting it in direct competition with heavyweights like MicroStrategy and Metaplanet.
The merger is now pending shareholder approval, with plans in place to issue a proxy statement and prospectus in the coming weeks.
For investors, this represents a unique opportunity to gain exposure to Bitcoin through a traditional public market vehicle—especially one that’s actively working to acquire Bitcoin assets below market value.
Strive’s ambitions mirror those of other corporate giants that have pivoted toward a Bitcoin treasury strategy. Just this week, MicroStrategy, the company led by Bitcoin evangelist Michael Saylor, revealed it had purchased 7,390 BTC for $764.9 million, bringing its total holdings to a staggering 576,230 BTC—the largest by any publicly traded firm.
Similarly, Metaplanet, a Japanese firm that has become a crypto darling in Asia, introuduced it had added 1,004 BTC, pushing its total reserves to 7,800 BTC.
These moves signal a broader trend: corporations aren’t just adopting Bitcoin—they’re competing to accumulate it.
Strive’s strategy taps into a growing market of distressed digital asset claims, especially those that offer a chance to acquire Bitcoin at discounted prices. By targeting the Mt. Gox claims—assets tied up in a complex but legally viable claims process—Strive may be able to bulk up its Bitcoin treasury at significantly lower costs compared to buying directly on the open market.
This approach also signals a maturing investment strategy in the crypto space, where firms are now looking beyond standard buys and exploring legal and financial mechanisms to gain long-term exposure to digital assets.
Furthermore, as public interest in Bitcoin ETFs and regulated exposure to crypto continues to surge, the emergence of a dedicated, publicly traded Bitcoin asset management firm could attract mainstream investors looking for a more traditional way to invest in the sector.
While the Mt. Gox estate remains a complex legal maze, Strive’s calculated bet on acquiring these distressed claims could pay off handsomely. The company is not just investing in Bitcoin—it’s investing in the future of Bitcoin as a strategic corporate asset.
As the October 2025 repayment deadline approaches, all eyes will be on how Strive navigates the legal and financial hurdles in front of it—and whether it can outmaneuver competitors in the race to control more of Bitcoin’s limited supply.
In a world where Bitcoin is increasingly being treated as digital gold, Strive’s actions may very well set the tone for the next wave of corporate crypto investment.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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