Strive Asset Management Plans to Acquire $8 Billion Worth of Bitcoin

Jakarta, Pintu News – Strive Asset Management, founded by entrepreneur and former presidential candidate Vivek Ramaswamy, is planning an ambitious Bitcoin (BTC) acquisition strategy by targeting claims from the long-defunct Mt. Gox exchange that has been out of operation for a long time.

Bitcoin Acquisition Strategy By Strive

In a recent filing with the SEC, Strive Asset Management revealed plans to acquire approximately 75,000 BTC, valued at over $8 billion, through discounted bankruptcy claims. The goal is to increase the amount of Bitcoin per share and outperform the asset in the long run.

Strive is working with 117 Castell Advisory Group to assess the legally confirmed claims. Currently, Strive is still awaiting shareholder approval and will file an SEC Form S-4 to advance the proposal.

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Merger Preparation with Asset Entities

This process is taking place alongside preparations for a reverse merger with Asset Entities, a Texas-based social media marketing company trading under the ticker ASST.

Although Strive has not disclosed its current Bitcoin holdings, the company claims it will face fewer regulatory hurdles than companies that IPO through the SPAC merger. If the merger is completed, Strive will get a listing on the New York Stock Exchange and will control 94% of the merged company.

Asset Entities Share Increase

Since the merger announcement on May 7, Asset Entities (ASST) shares have experienced a significant surge. The stock rose by 25.45% to $9.70 on May 20, according to Google Finance.

This surge has pushed their market capitalization to $122.1 million, marking an astonishing increase of 1,170% since news of the merger with Strive was revealed. This also coincides with Bitcoin trading above $111,000 at the moment, having experienced a 5.65% increase in the last 24 hours.

Conclusion

With Mt. Gox’s plan to fully repay creditors by October 2025, Strive has an increasingly narrow window of time to finalize shareholder approval for its discounted Bitcoin acquisition strategy. If successful, this will mark a major step for Strive in strengthening its position in the Bitcoin investment market.

Read More: Bitcoin and Dogecoin Set New Price Records Amid Crypto Market Trends

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This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• AMB Crypto. Strive eyes 75,000 Mt. Gox Bitcoin to build treasury ahead of merger. Accessed on May 22, 2025
• Featured Image: Generated by AI