Strive Enterprises Targets Distressed Bitcoin claims
Strive Enterprises, an asset management firm, is set to buy distressed Bitcoin claims. The firm,founded by Vivek Ramaswamy,aims to acquire these claims thru a partnership with 117 Castell Advisory Group. This strategic move seeks to provide discounted Bitcoin exposure for Strive’s investment products.
One of the key targets is the Mt.Gox estate. the plan is to secure Bitcoin at below-market prices. This approach allows Strive to boost it’s Bitcoin holdings without paying full market rates. The SEC filing reveals that Strive will focus on claims that are settled but not yet distributed.
Strive Enterprises, an asset management firm, is set to buy distressed bitcoin claims. The firm, founded by Vivek Ramaswamy, aims to acquire these claims through a partnership with 117 Castell Advisory Group. This strategic move seeks to provide discounted Bitcoin exposure for Strive’s investment products.
One of the key targets is the Mt. Gox estate. The plan is to secure Bitcoin at below-market prices. This approach allows Strive to boost its Bitcoin holdings without paying full market rates. The SEC filing reveals that strive will focus on claims that are settled but not yet distributed, such as approximately 75,000 BTC from Mt. Gox’s bankruptcy proceedings. By acquiring these claims below market value, Strive wants to enhance its Bitcoin-per-share metric and deliver long-term outperformance relative to BTC. The company is positioning the move as a value-driven strategy, offering investors exposure to Bitcoin without paying the full market price. Strive framed the transaction as part of a broader plan to capitalize on inefficiencies in the crypto credit market.
Vivek Ramaswamy co-founded Strive back in 2022 to challenge the prevailing ESG and DEI investment trends, advocating rather for shareholder primacy and depoliticized capitalism. Ramaswamy resigned as Executive Chairman in 2023 to pursue a presidential bid, after which Matt Cole took over leadership.
Under Cole, Strive expanded into wealth management and embraced Bitcoin, planning to become the first publicly traded asset manager with a Bitcoin treasury. Ramaswamy no longer holds an executive role, but his vision continues to shape Strive’s direction, according to the company.
The filing also noted that the transaction is tied to a proposed merger between Strive and Asset Entities Inc. — a move that would result in a combined company with greater scale and access to public capital markets. ASST is expected to issue new shares as part of the deal.
Mt.Gox, once the world’s leading Bitcoin exchange, collapsed in 2014 after a series of hacks led to the loss of over 800,000 BTC. Creditors have waited more than a decade for partial recovery,with distributions now expected in the coming months.
