Strive Asset Management to Acquire a Significant Portion of Bitcoin Claims from the Collapsed Mt. Gox Exchange

Strive Asset Management, co-founded by biotech entrepreneur and former U.S. presidential candidate Vivek Ramaswamy, has announced its intention to acquire a significant portion of Bitcoin claims from the collapsed Mt. Gox exchange.

Strive Asset Management, the investment firm co-founded by biotech entrepreneur and former U.S. presidential candidate Vivek Ramaswamy, is planning to buy a portion of the claims against bankrupt Mt. Gox, the once-notorious Tokyo-based cryptocurrency exchange, in a move that could see the firm acquire a treasury of 75,000 Bitcoin (BTC).

According to a press statement released on Thursday, Strive is seeking to purchase claims tied to approximately 75,000 BTC—valued at more than $8 billion at current prices (around $108,000 per BTC)—as part of a broader effort to establish a robust Bitcoin reserve. The firm intends to apply for shareholder approval and regulatory clearance for the acquisition via a Form S-4 registration statement with the U.S. Securities and Exchange Commission (SEC).

The strategic acquisition is part of Strive’s broader vision to transform into a Bitcoin-centric asset manager. As previously reported by Blockworks, Strive is planning to complete a reverse merger with Asset Entities, a publicly traded company, sometime in the second half of 2025. The merger will enable Strive to become a publicly traded entity with significant Bitcoin holdings, setting it apart from traditional asset managers.

To facilitate the acquisition, Strive has partnered with 117 Castell Advisory Group LLC, a firm specializing in distressed digital asset claims. Together, they will identify Mt. Gox claimants who are open to selling their claims at a discount in exchange for immediate liquidity.

“We believe this presents a unique opportunity for institutional investors to participate in one of the largest crypto insolvencies in history and acquire a substantial amount of Bitcoin at a fraction of its market value,” said Ramaswamy, the firm’s CEO and co-founder.

The move also comes as part of a larger corporate strategy to enhance the firm’s Bitcoin-per-share ratio ahead of the merger. Earlier this year, Strive launched the "Strive U.S. Bitcoin ETF," aiming to provide investors with exposure to Bitcoin futures in a transparent and cost-effective manner.

The firm is also seeking to convert its existing investment fund, the "Strive U.S. Total Market Index ETF," into a "Bitcoin Total Market Index ETF." This conversion will allow the firm to offer a broader range of investment options to its shareholders.

The proposed acquisition strategy is still contingent on several factors, including shareholder approval and regulatory clearance. Strive intends to file a Form S-4 registration statement with the SEC, which will detail the terms of the acquisition and the structure of the reverse merger.

Shareholders will be issued a proxy statement and prospectus to vote on the proposal. The relevant materials will be available on the SEC’s website and can be accessed by entering the company's ticker symbol (AEGL).

Industry analysts suggest that Strive’s move may be an early signal of growing institutional interest in Bitcoin as a reserve asset, especially with global economic uncertainty and inflation concerns persisting.

By acquiring distressed assets rather than purchasing Bitcoin directly on the market, Strive may be able to secure BTC at a significant discount to market value, potentially enhancing shareholder value and strengthening its financial position.

The development also coincides with renewed attention on Mt. Gox, the Tokyo-based exchange that collapsed in 2014 after losing over 850,000 BTC in a hack.

After years of legal proceedings, the exchange is now in the process of repaying creditors under court supervision. The repayment deadline was recently extended to October 31, 2025, giving claimants more time to finalize settlement details.

As the crypto community watches for signs of market impact from the long-awaited distributions, Strive’s acquisition strategy could serve as a buffer against large-scale selloffs, potentially absorbing a portion of Bitcoin supply before it reaches the open market.

While the outcome of the acquisition and merger remains uncertain pending regulatory and shareholder approvals, Strive’s bold entry into the Bitcoin treasury space highlights a growing trend among asset managers: aligning corporate strategy with the long-term potential of decentralized assets.