Bankrupt Mt. Gox exchange, try to build a 75,000 BTC treasury by acquiring distressed bitcoin claims at a discount.

Strive Asset Management, a company co-founded by Vivek Ramaswamy, has sold its 75,000 bitcoin treasury to bankrupt crypto exchange Mt. Gox announced its plans to buy distressed BTC claims at a discount.

Amidst US economic uncertainty and mounting debt, more and more companies are ready to add $BTC to their balance sheets.

Strive Shares Plans to Buy Bitcoins at a Discount

In its May 20 SEC filing, Strive disclosed its partnership with 117 Castell Advisory Group LLC to acquire Bitcoin (BTC) claims that have already been legally received but are awaiting distribution from Mt. Gox.

The firm added that acquiring these claims will allow it to buy $BTC at a discount to build its own Bitcoin treasury. This should help boost its bitcoin-per-share ratio ahead of its expected reverse merger with asset firms, which is expected to close by mid-year.

Mt. Gox's claims, Strive is still seeking shareholder approval and plans to file a full filing with the U.S. Securities and Exchange Commission (SEC), sharing the full terms of the proposed transaction. Later, the firm will seek shareholder approval via proxy statement.

With Mt. Gox planning to pay off its creditors in full by October 31, Strive needs to secure shareholder approval for the claims before then.

Asset Entities (ASST), a social media marketing firm set to merge with Strive to form a Bitcoin investment company, saw its shares jump 18.2% on May 20.

With its share price up a staggering 1,170% since the announcement of the Strive merger, the company’s market cap has risen to $1.22 trillion.

Corporations are building their own bitcoin treasuries.

Over the past few weeks, a number of corporations have announced plans to build bitcoin treasuries amid global economic uncertainty.

Demand for $BTC has increased further since Moody's downgraded the US credit rating, citing growing debt concerns.

Over the past week, two Nasdaq-listed firms have made similar announcements to acquire large-scale Bitcoin.

Basel Medical Group Ltd (Nasdaq: BMGL) has announced exclusive talks to acquire $1 billion in Bitcoin, signaling a major pivot in its financial strategy.

On the other hand, Singapore-based DigiAsia announced an initial plan to purchase $100 million in bitcoin.

DigiAsia has pledged to allocate up to 50% of its future net profits to Bitcoin acquisitions.

The company also outlined plans to explore diversified strategies to generate profits from its bitcoin holdings, including lending, staking, and developing crypto-linked financial products.

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