Vivek Ramaswamy backed Strive Asset Management is going after Mt. Gox bankruptcy claims to acquire Bitcoin. But, why?
What’s happening:
- Strive Asset Management has announced they are pursuing purchasing distressed Bitcoin claims through Mt. Gox’s bankruptcy process
Why it matters:
- This is one of the first times ever that a large asset management company in North America has pursued buying distressed Mt. Gox claims for the purpose of accumulating more Bitcoin
Going deeper:
- Strive Asset Management has publicly stated they are aiming to purchase enough distressed claims at a discount to acquire 75,000 Bitcoin to hold directly as an asset
- Strive Asset Management just recently made waves when they announced a new merger agreement with Asset Entities (NASDAQ: ASST) that will make them a publicly traded company and enable large scale capital raises for the sole purpose of acquiring Bitcoin
The fine print:
- Strive Asset Management will need shareholder approval prior to formally closing on any distressed Mt. Got claims and the process will also ultimately be dependent on existing creditors of Mt. Gox being willing to sell their claims
