Vivek Ramaswamy’s Strive is attempting to buy Bitcoin at a discount from sources like Mt. Gox’s estate. This deal is still in its earliest stages, and the exact price and quantities of BTC involved are not certain.
Mt. Gox has roughly 75,000 Bitcoins in its holdings, but is planning to reimburse its creditors. It’s unclear if Strive stands a real chance at achieving this sweetheart deal.
Can Strive Buy Bitcoin at a Discount?
Since Strategy became a major Bitcoin holder, other corporations have started to mimic its plan to create BTC Treasuries. One such firm, Strive, is attempting to build its own Bitcoin stockpile, acquiring these assets from overlooked locations.
According to an SEC filing, the firm is evaluating the potential of sources like Mt. Gox.
“On May 20, 2025, Strive announced that it has entered into a strategic partnership to source and evaluate distressed Bitcoin claims that have received definitive legal judgments but remain pending distribution. This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share,” the filing claimed.
This partnership is taking place with 117 Castell Advisory Group LLC, a firm with a very small digital footprint. Although its registration lists it as a Georgia-based company, most available coverage only concerns the Strive partnership, which was founded last month.
Mt. Gox was an early crypto exchange that collapsed spectacularly, and it still holds substantial amounts of BTC. Over the last few months, the firm has been repaying its creditors using Bitcoin, and Strive estimates that Mt. Gox may have up to 75,000 BTC left in its holdings.
Strive is also looking at other unnamed sources that may be in similar circumstances.
Vivek Ramaswamy, a former Presidential candidate and D.O.G.E. co-leader, has a long history of crypto advocacy. He founded Strive, an asset management company, which filed to create a Bitcoin Bond ETF last December.
Since early May, the firm has planned to become a Bitcoin-focused company, intending to spend billions on BTC.
Recently, Strive has been building its practical capacity to buy this much Bitcoin. For example, it merged with Asset in mid-May as part of a plan to make it a more able contender.
Between MicroStrategy, Metaplanet, and other corporate BTC holders, Strive will need determination to see this plan through.
Still, the firm is playing its cards close to the chest. Since Mt. Gox is still reimbursing its creditors, it’s unclear how Strive plans to buy its Bitcoin reserves at discounted prices.
Most of the filing concerns legal terms, with Bitcoin mentioned only in the opening paragraph. Neither Strive nor Ramaswamy has elucidated their plans in greater detail.
In other words, it’s unclear what might actually happen. If Strive can acquire this Bitcoin cheaply, it would be a huge business opportunity. However, this plan could also fizzle out without much fanfare. For now, it’s difficult to make predictions.
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