Strive Buys 75,00 Discounted Bitcoin Claims From Notorious Mt. Gox Exchange

Ramaswamy, who ran as a Republican candidate for president last year, is using Strive to expand his crypto holdings.

Asset management firm Strive is planning to buy 75,000 discounted claims on Bitcoin (BTC) linked to the bankrupt Mt. Gox crypto exchange, aiming to expand its crypto holdings.

What Happened: Strive said in a May 20 filing with regulators that it partnered with 117 Castell Advisory Group LLC to buy Mt. Gox Bitcoin claims with confirmed legal judgments that have yet to be distributed.

The firm is seeking shareholder approval at its annual meeting on June 1 to pursue the Mt. Gox claims and engage in cryptocurrency-linked derivatives transactions.

The move comes as Bitcoin nears a new all-time high (ATH) of $110,000. At press time, Bitcoin traded hands at $106,437, up 1.1% in the 24-hour period.

See More: Best Cryptocurrency Prices Today

Why It's Important: Strive said buying the Mt. Gox Bitcoin claims would allow it to acquire BTC below the current market price.

The company’s goal is to outperform Bitcoin over the long run, and acquiring the cryptocurrency at a discount now will support that aim.

However, time is tight for Strive to buy the Mt. Gox Bitcoin claims as the exchange is expected to fully repay its creditors by October 31.

Earlier this month, Strategy grew its Bitcoin holdings with the purchase of 7,390 more Bitcoin. The company has now acquired 150,000 Bitcoin since 2015.

Similarly, Japan-based Metaplanet also acquired an additional 1,004 Bitcoin recently.

Also Read: Bitcoin Surpasses $108K, But Can It Reach $150K By June?

Best Crypto To Buy Now As BTC Bull Token Takes Spotlight

As institutions bulk up on Bitcoin, retail investors are turning their focus to new, cheaper opportunities.

One standout is BTC Bull Token (BTCBULL), a presale project that rewards holders with free Bitcoin airdrops whenever Bitcoin hits new all-time highs, starting at $150,000. The airdrops will repeat for every $50K increase in the BTC price after that.

There will also be a series of BTCBULL token burns. These start at $125K and repeat every time the BTC price rises another $25k.

Those interested to join investors who have already pumped more than $6 million into the BTCBULL presale can buy tokens for $0.00252 each.

Join Our Telegram channel to stay up to date on breaking news coverage