Strive Asset Management to Acquire Up to 75,000 Bitcoin from Mt. Gox
Strive Asset Management is set to acquire up to 75,000 Bitcoin (BTC) at a discount, targeting distressed claims from the defunct Mt. Gox exchange. The company believes this strategy will face fewer regulatory hurdles than traditional public listings.
Strive aims to enhance its Bitcoin per share metric by purchasing exposure below the current BTC price. The company is collaborating with Chainalysis and 117 Castell Advisory Group to identify and assess these distressed claims. The Mt. Gox exchange, once the largest, collapsed in 2014 following a security breach that resulted in the theft of approximately 750,000 Bitcoin.
Strive is planning a reverse merger with Asset Entities, expected to be completed by mid-2025. Post-merger, Strive will own 94.2% of the combined entity. Asset Entities' shares have surged 1,170% since the announcement.
Strive requires shareholder approval to pursue the Mt. Gox claims, with a proxy statement to be sent out after a full SEC filing. The acquisition, if successful, could significantly boost Strive's Bitcoin holdings and potentially impact the broader cryptocurrency market.
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