Strive plans discounted Bitcoin play with Mt Gox creditor claims
The post Strive plans discounted Bitcoin play with Mt Gox creditor claims appeared on BitcoinEthereumNews.com. Strive Enterprises, the asset management firm founded by pro-crypto entrepreneur Vivek Ramaswamy, is planning to buy distressed Bitcoin claims. In a recent filing with the Securities and Exchange Commission (SEC), the firm said this would allow it to gain BTC exposure at a discount. According to the filing, the Ohio-based corporation is partnering with 117 Castell Advisory Group LLC to source for such claims and purchase them. The filing specifically mentioned the Mt Gox bankruptcy estate with approximately 75,000 Bitcoin, noting that such distressed and definitive claims could be cheaper. It said: “This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run.” The Bitcoin stash of the defunct Japanese exchange has been a subject of multiple discussions in the crypto industry since 2014, when they were stolen and the exchange filed for bankruptcy. While efforts to repay creditors have been ongoing for several years, many are still unpaid because they have yet to complete the required process. This has led to multiple extensions of the repayment deadline, with the extension coming in October 2025. Unsurprisingly, there have been concerns that selling pressures from Mt Gox repayments could affect the Bitcoin price as many creditors could opt to sell. If Strive can achieve its plan, the firm could absorb the selling pressures while ending several creditors’ wait for repayment. Strive pushing to redefine corporate Bitcoin exposure. The move by Strive shows how the company adopts a different approach to Bitcoin treasury adoption. Unlike Strategy’s (formerly MicroStrategy) approach of accumulating Bitcoin for its treasury, Strive wants to outperform the flagship asset. In order to achieve this, the firm plans to use several innovative strategies to gain Bitcoin exposure…
The post Strive plans discounted Bitcoin play with Mt Gox creditor claims appeared on BitcoinEthereumNews.com.
Strive Enterprises, the asset management firm founded by pro-crypto entrepreneur Vivek Ramaswamy, is planning to buy distressed Bitcoin claims. In a recent filing with the Securities and Exchange Commission (SEC), the firm said this would allow it to gain BTC exposure at a discount. According to the filing, the Ohio-based corporation is partnering with 117 Castell Advisory Group LLC to source for such claims and purchase them. The filing specifically mentioned the Mt Gox bankruptcy estate with approximately 75,000 Bitcoin, noting that such distressed and definitive claims could be cheaper. It said: “This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run.” The Bitcoin stash of the defunct Japanese exchange has been a subject of multiple discussions in the crypto industry since 2014, when they were stolen and the exchange filed for bankruptcy. While efforts to repay creditors have been ongoing for several years, many are still unpaid because they have yet to complete the required process. This has led to multiple extensions of the repayment deadline, with the extension coming in October 2025. Unsurprisingly, there have been concerns that selling pressures from Mt Gox repayments could affect the Bitcoin price as many creditors could opt to sell. If Strive can achieve its plan, the firm could absorb the selling pressures while ending several creditors’ wait for repayment. Strive pushing to redefine corporate Bitcoin exposure. The move by Strive shows how the company adopts a different approach to Bitcoin treasury adoption. Unlike Strategy’s (formerly MicroStrategy) approach of accumulating Bitcoin for its treasury, Strive wants to outperform the flagship asset. In order to achieve this, the firm plans to use several innovative strategies to gain Bitcoin exposure…
What's Your Reaction?
