Strive Targets 75,000 Bitcoin Acquisition via Mt. Gox Claims

Strive, an investment firm led by Vivek Ramaswamy, is set to make a significant foray into the cryptocurrency market by acquiring 75,000 Bitcoin. The acquisition will focus on claims from the defunct exchange Mt. Gox, enabling Strive to buy Bitcoin at below-market prices through legal claims that are still pending distribution. The initiative, in partnership with 117 Castell Advisory Group LLC, comes ahead of Strive's planned reverse merger with Asset Entities, a social media marketing company, expected to be completed by mid-2025. The merger will see Strive holding 94.2% of the new entity, which will continue to trade under Asset Entities' ticker. Strive aims to capitalize on a more flexible regulatory framework compared to SPAC mergers, facilitating its Bitcoin acquisition strategy. With Mt. Gox creditors due to be repaid by October 31, 2025, time is of the essence for Strive to secure shareholder approvals and finalize the transactions. Asset Entities' stock has surged 1,170% following the merger announcement, and the news of the Bitcoin acquisition strategy has further boosted its market capitalization to $122.1 million. This move is part of a growing corporate trend to add Bitcoin to balance sheets, inspired by other companies like Twenty One Capital and DigiAsia, which have also announced significant Bitcoin acquisitions.