Strive aims to purchase Mt. Gox Bitcoin claims at a discount, creating a higher quality Bitcoin strategy company.

Strive announced that it has established a strategic partnership with 117 Castell Advisory Group LLC to purchase Bitcoin claims, such as those from Mt. Gox, at a discounted price, thereby increasing the value of the company’s Bitcoin per share and supporting its long-term goal of surpassing Bitcoin.

ASST intends to purchase Bitcoin claims from Mt. Gox at a discount.

Strive Asset Management, co-founded by Vivek Ramaswamy, plans to merge with Asset Entities ( stock code ASST) to form a publicly traded Bitcoin asset management company. In addition to leveraging the advantages of operating communities on its Discord and other online platforms, Asset Entities plans to issue $1 billion in equity and bonds to establish a large-scale Bitcoin reserve, and through the tax exemption mechanism of Section 351 of the U.S. tax code, allow investors to exchange Bitcoin for company stock.

( Is it tax-free to exchange BTC for stocks? Strive merged with an operating Bitcoin asset company, and ASST surged 455% on that day )

According to Strive SEC filings, Strive announced that it has entered into a strategic partnership with 117 Castell Advisory Group LLC to find and evaluate distressed bitcoin claims ( such as from Mt. Gox totaling approximately 75,000 BTC) – claims that have been legally distributed but remain final. This strategy is designed to give Strive the opportunity to buy Bitcoin at a price below the market price, thereby increasing the value of Bitcoin per share and supporting its long-term goal of surpassing Bitcoin.

Strive, leveraging its advantages in the cryptocurrency market, aims to acquire debt at a discount to buy Bitcoin, attempting to create more advantages for the company and its shareholders.

Another company, Upexi, which is backed by the crypto market maker GSR, recently purchased discounted locked SOL at an average price of $141.1 per token for (.4 years ), and the company’s Solana holdings have exceeded 596,714 SOL tokens, valued at approximately $102 million.

( GSR invested in Upexi, betting 100 million dollars on Solana )

Mt. Gox still has Bitcoin claims that have not been distributed.

Mt. Gox was established in 2010 and is headquartered in Tokyo. It was once the largest Bitcoin exchange in the world. At its peak, the exchange handled 70% of the global Bitcoin trading volume. However, in 2014, Mt. Gox suffered a hacker attack, losing approximately 850,000 BTC, which led the exchange to declare bankruptcy, becoming one of the most severe security incidents in cryptocurrency history.

Mt. Gox will start the creditor repayment plan in July 2024, but has recently postponed the final repayment deadline to October 31, 2025.

According to data from Arkham Intelligence, Mt. Gox currently holds 34,689 Bitcoins, worth approximately 3.7 billion USD.

This article Strive intends to purchase Mt. Gox Bitcoin claims at a discount, creating a higher quality Bitcoin strategy company first appeared in Chain News ABMedia.