Strive Enterprises, co – founded by Vivek Ramaswamy, is aiming to acquire 75,000 BTC from the Mt. Gox estate as part of its strategy to build a Bitcoin treasury. Here is a detailed introduction:
The Background of the Plan
The collapse of Mt. Gox: Mt. Gox was once the world’s largest Bitcoin exchange. In 2014, it suffered a major security breach, resulting in the loss of about 750,000 BTC. The exchange subsequently went bankrupt, and a Tokyo court appointed a trustee to oversee the distribution of remaining assets to creditors. Creditors have waited over a decade for repayment, and the final payout deadline is October 2025.
The Specific Plan
Cooperation with advisory group: In a filing with the SEC on May 20, Strive revealed its partnership with 117 Castell Advisory Group to pursue the claims. They will focus on claims that have received definitive legal rulings but are still awaiting distribution.
Shareholder approval needed: Strive needs shareholder approval for this acquisition. The company intends to submit a form S – 4 registration with the SEC, which will include the full terms of the proposed transaction. Once filed, shareholders will receive a proxy statement to vote on the acquisition.
The Purpose of the Plan
Purchase Bitcoin at a discount: This strategy allows Strive to purchase Bitcoin exposure at a discount to the market price, enhance the Bitcoin – per – share ratio, and support its goal of outperforming Bitcoin in the long term.
The Market Impact
Reducing selling pressure: The acquisition may mitigate Bitcoin market volatility by reducing the immediate selling pressure following Mt. Gox repayments. This could stabilize Bitcoin prices and influence institutional investment strategies.
The Industry Trend
Following the trend of peers: Strive’s move to accumulate Bitcoin is in line with the trend of companies such as MicroStrategy and Japan’s Metaplanet, which are also increasing their Bitcoin holdings. New firms like Twenty One Capital, backed by Tether and Softbank, are also entering the Bitcoin treasury market.
The Impact on the Merged Company
Stock price increase: Strive is preparing for a reverse merger with Texas – based Asset Entities. After Strive’s announcement, shares of Asset Entities surged 18.2% to $7.74 on May 20 and have increased by 1,170% since the merger news broke. After the merger, Strive will control 94.2% of the combined entity, which will continue to trade under the ASST ticker.
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