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Strive aims to acquire 75,000 BTC from Mt. Gox creditor claims, leveraging a discounted opportunity to build its treasury amid a historic crypto recovery process in 2025.
Strive Eyeing Mt. Gox’s Discounted Bitcoin
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 led by Vivek Ramaswamy, requires shareholder approval to proceed, as the Japan-based Mt. Gox prepares to distribute its remaining assets to creditors.
Strive announced that it has entered into a strategic partnership with 117 Castell Advisory Group LLC to source and evaluate distressed Bitcoin claims—such as those from the Mt. Gox estate, which total approximately 75,000 BTC —that have received definitive legal judgments but…
— Ben Pham (@BenPhiat) May 20, 2025
The exchange’s collapse, one of the largest crypto failures in history, left creditors waiting over a decade for compensation. Now, with repayments imminent, Strive sees an opportunity to bolster its Bitcoin holdings. Such large-scale acquisitions could influence market dynamics, as historical patterns show significant price fluctuations following similar events.
Strive claims it faces fewer restrictions than companies using Special Purpose Acquisition Company (SPAC) mergers, giving it an edge in acquiring Bitcoin via a reverse merger. This flexibility positions Strive to capitalize on Mt. Gox’s distressed claims, potentially securing Bitcoin at below-market rates.
However, the plan’s success hinges on shareholder approval and navigating the legal complexities of Mt. Gox’s bankruptcy proceedings, which have been fraught with delays and controversies.
Big Players in the Race to Stockpile Bitcoin
The potential acquisition of 75,000 BTC, worth over $.3 billion at Bitcoin’s ATH at $110,000, could have significant market implications. Analysts predict volatility, as large inflows of Bitcoin from Mt. Gox repayments may lead to selling pressure.
Learn more: Bitcoin ATH at $111,000, Nothing Can Stop BTC To The Moon
Strive’s strategy aligns with a bullish outlook for Bitcoin, as Standard Chartered predicts a $500,000 price by 2029, driven by institutional interest. Mike Novogratz of Galaxy Digital forecasted Bitcoin reaching $150,000 soon, fueled by pro-crypto policies under the Trump administration. JPMorgan’s shift to allow Bitcoin purchases reflects this trend, with the bank holding $1.7 billion in Bitcoin ETFs as of May 2025. Additionally, spot Bitcoin ETFs saw record inflows of $109 billion in assets under management, with BlackRock’s IBIT managing 633,212 BTC, signaling robust institutional confidence.
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