Strive targets 75,000 Bitcoin from Mt. Gox claims to build Bitcoin treasury
Strive plans to acquire distressed Bitcoin claims, starting with 75,000 Bitcoin linked to the bankrupt Mt. Gox exchange. A partnership with 117 Castell Advisory Group LLC aims to target claims that have legal rulings but await distribution. This strategy allows Strive to buy Bitcoin at a discount and enhance its Bitcoin per share ratio before a reverse merger with Asset Entities, expected mid-year. Shareholder approval is required for pursuing Mt. Gox claims, with a filing to the SEC planned to detail the transaction. Mt. Gox is set to repay creditors by October 31. Strive's move aligns with a trend of firms holding Bitcoin as a strategic asset. Asset Entities shares rose 18.2% to $7.74, reflecting a 1,170% increase since the merger announcement. Strive will own 94.2% of the merged entity, which will continue trading under the ASST ticker.
