Billionaire Vivek Ramaswamy’s Bold Move: Acquiring 75,000 Bitcoin from Mt. Gox

Billionaire Vivek Ramaswamy’s Ohio-based financial services firm Strive, in a strategic partnership with 117 Castell Advisory Group LLC, has announced plans to acquire 75,000 Bitcoin claims from the bankrupt Mt. Gox estate. This acquisition, valued at over $8.2 billion, aims to establish the first publicly traded asset management Bitcoin treasury company through a collaboration with social media marketing firm Asset Entities.

• Acquisition of 75,000 BTC claims from Mt. Gox
• Partnership with Asset Entities
• Formation of a new Bitcoin treasury company
• Impact on Bitcoin adoption and institutional investment

The Acquisition

Strive’s decision to buy these Bitcoin claims at a discounted price is a calculated step to enhance the amount of Bitcoin per share and aim for long-term outperformance. Bitcoin per share refers to how much Bitcoin each share of the company represents, and long-term outperformance means the company’s stock aims to do better than Bitcoin itself over time. The Mt. Gox estate, which once handled over 70% of Bitcoin transactions, collapsed in 2014 due to a security breach that resulted in the theft of 750,000 BTC. With the estate set to repay creditors by October 31, 2025, Strive is strategically positioning itself to capitalize on this opportunity.

While this move is ambitious, some skeptics worry about the stability of a company built on the assets of a failed exchange. However, Strive isn’t just dipping its toes in the crypto pool; they’re diving in headfirst, and they better know how to swim.

The Partnership

Strive’s partnership with Asset Entities is not just about acquiring Bitcoin; it’s about creating a new entity that will allow Bitcoin holders to swap their Bitcoin for shares in the new company without paying taxes on the transaction. This is facilitated through a Section 351 exchange, which is essentially a tax-free way to exchange Bitcoin for stock. This innovative approach could attract more Bitcoin enthusiasts and bolster the company’s Bitcoin accumulation strategy.

Matt Cole, a seasoned fixed income portfolio manager, will lead the new entity as CEO and Chairman. The management team will include key figures from both Strive and Asset Entities, with plans to add respected Bitcoin leaders to the board.

Market Reaction

Since the announcement, Asset Entities’ shares have surged, closing up 18.2% to $7.74 on May 20, 2025, reflecting strong investor interest in this strategic move. This acquisition could boost Bitcoin’s value and solidify its position as the leading cryptocurrency. According to a recent report by CoinDesk, institutional interest in Bitcoin has surged by 30% in the last year, indicating a broader trend that Strive is tapping into.

“This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run.” – Francisco Rodrigues, CoinDesk

Arshia Sarkhani from Asset Entities expressed enthusiasm for the merger, noting the firm’s unique position in building online communities to drive Bitcoin adoption and shareholder value.

The Road Ahead

While this bold move by Strive could be a game-changer, it’s not without its challenges. The urgency to secure shareholder approval due to the impending Mt. Gox creditor repayment deadline adds pressure to the equation. However, by turning Bitcoin claims into publicly traded shares, Strive is challenging traditional financial systems and pushing forward the decentralization movement. This acquisition aligns with the concept of effective accelerationism, driving innovation and challenging traditional financial models.

Strive’s move is a prime example of effective accelerationism, where embracing disruptive technologies like Bitcoin can accelerate progress and reshape the financial landscape. While Strive leans towards a Bitcoin maximalist approach, it’s important to recognize that other cryptocurrencies and blockchains also play vital roles in this financial revolution. Ethereum and other innovative protocols fill niches that Bitcoin might not serve as well, contributing to the overall ecosystem’s growth and diversity.

Key Questions and Takeaways

• What is the total value of the 75,000 BTC claims being acquired by Strive?

  The 75,000 BTC claims are currently valued at over $8.2 billion.

• Why is Strive acquiring these Bitcoin claims at a discount?

  Strive aims to purchase Bitcoin exposure at a discount to enhance Bitcoin per share and support its goal of outperforming Bitcoin over the long run.

• What is the significance of the partnership with Asset Entities?

  The partnership with Asset Entities is to form the first publicly traded asset management Bitcoin treasury company, which could set a precedent for institutional investment in Bitcoin.

• What was the impact of the Mt. Gox security breach?

  The Mt. Gox security breach led to the theft of 750,000 BTC and the subsequent collapse of the exchange, which once handled over 70% of Bitcoin transactions.

• How does this acquisition strategy fit into broader market trends?

  This acquisition strategy reflects a trend of institutional investors seeking discounted Bitcoin exposure, aligning with the growing institutional adoption of cryptocurrencies.