The post BTC News: Strive to Acquire 75,000 Bitcoin via Mt. Gox Bankruptcy Claims appeared on BitcoinEthereumNews.com.

According to a regulatory filing on May 20, Strive is seeking to acquire 75,000 Bitcoin through claims tied to the long-defunct Mt. Gox exchange. Strive is expected to obtain shareholder approval soon before Mt.Gox begins to repay its creditors in October 2025. Strive Asset Management, led by entrepreneur and political figure Vivek Ramaswamy, is boldly acquiring 75,000 Bitcoin by purchasing distressed claims tied to the now-defunct Mt. Gox exchange. The goal? To build a major Bitcoin treasury ahead of a planned reverse merger with NASDAQ-listed Asset Entities Inc., a move that would catapult Strive into the spotlight as a serious player in the corporate Bitcoin space. For a bit of history, Mt. Gox was once the world’s largest Bitcoin exchange, handling more than 70% of global BTC trades at its peak in 2013–2014. Based in Tokyo, it was the beating heart of early crypto trading. That changed in 2014, when Mt. Gox revealed it had lost 950,000 BTC (then worth about $450 million) due to a massive security breach. The exchange collapsed, filed for bankruptcy, and sparked one of the biggest scandals in crypto history. Since then, roughly 140,000 BTC have been recovered and are now part of a court-managed repayment process, with distributions to creditors expected by October 31, 2025. According to the filing made on May 20, Strive’s strategy is to buy those creditor claims, essentially IOUs, at a discount, allowing the firm to accumulate a massive amount of Bitcoin without having to purchase it directly on the open market. The deal is time-sensitive, and Strive is collaborating with 117 Castell Advisory Group as it works toward securing shareholder approval to move forward. Afterwards, the firm will file a Form S-4 registration with the Securities and Exchange Commission (SEC), laying out the full details of the transaction. The…

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Filed under: News - @ May 21, 2025 9:29 pm