Strive Aims to Acquire 75,000 BTC From Mt. Gox Creditor Claims

Strive's plan to purchase 75,000 Bitcoin BTC at a discount from Mt. Gox claims is a calculated bet on the cryptocurrency's long-term value.

Strive, a Bitcoin treasury company, is planning to acquire 75,000 Bitcoin (BTC) at a discounted price from Mt. Gox creditors, aiming to capitalize on a historic crypto recovery process in 2025.

Strive’s BTC Acquisition Plan

Strive, founded by former presidential candidate Vivek Ramaswamy, will require shareholder approval to purchase the discounted BTC from the liquidated Mt. Gox, a Japan-based cryptocurrency exchange that is preparing to distribute its remaining assets to creditors following its 2014 bankruptcy.

"We're applying for approval to acquire a portion of the Mt. Gox claims," said Ramaswamy during an interview on Friday.

Strive has partnered with 117 Castell Advisory Group LLC to identify and evaluate distressed Bitcoin claims, focusing on those that have received definitive legal judgments. These claims, in aggregate, are said to hold approximately 75,000 BTC and be priced at an average of around $5,700 per coin.

"We're limited in what we can say due to ongoing shareholder approval and the legal complexities of the Mt. Gox bankruptcy proceedings, which have been subject to significant delays and new developments over the past 10 years," a Strive spokesperson toldDecrypt in an email on Monday.

The company is seeking to acquire the Mt. Gox claims through a reverse merger, a transaction format that offers less regulatory scrutiny compared to Special Purpose Acquisition Company (SPAC) mergers. This flexibility enables Strive to capitalize on the distressed nature of the Mt. Gox claims, potentially securing the Bitcoin at below-market rates.

However, the plan's success depends on shareholder approval and navigating the legal intricacies of Mt. Gox's bankruptcy case, which has been marked by postponements and controversies.

The potential acquisition of 75,000 BTC, valued at over $.3 billion at Bitcoin's ATH of $110,000, could have significant implications for the crypto market.

As large batches of Bitcoin are being repaid to creditors following Mt. Gox's bankruptcy, analysts predict volatility. With an optimistic outlook, Standard Chartered predicts a price of $500,000 for Bitcoin in 2029 as institutions enter the market.

Moreover, Mike Novogratz of Galaxy Digital forecasted Bitcoin reaching $150,000 soon, driven by pro-crypto policies under the Trump administration. JPMorgan's recent move to allow purchases of Bitcoin also contributes to this trend, with the bank holding $1.7 billion in Bitcoin ETFs as of May 2025.

Furthermore, spot Bitcoin ETFs saw record inflows of $109 billion in assets under management, with BlackRock's IBIT now managing 633,212 BTC, highlighting strong institutional confidence.