tl;dr
Vivek Ramaswamy’s company Strive is exploring the purchase of Bitcoin at a discount from distressed sources such as Mt. Gox’s estate, which holds about 75,000 BTC. Strive has partnered with 117 Castell Advisory Group to evaluate Bitcoin claims with legal judgments pending distribution. While Strive ...
Vivek Ramaswamy’s company, Strive, is exploring opportunities to acquire Bitcoin at a discount from distressed sources, most notably Mt. Gox’s estate, which holds approximately 75,000 BTC. Strive has teamed up with 117 Castell Advisory Group to assess Bitcoin claims that have definitive legal judgments but are pending distribution.
The company’s goal is to amass a substantial Bitcoin stockpile and establish itself as a significant corporate Bitcoin holder. However, key deal specifics—such as pricing, exact quantities, and terms—remain unclear. Since Mt. Gox is actively reimbursing its creditors, it is uncertain whether Strive can secure Bitcoin at below-market prices.
The strategic partnership was announced in May 2025, emphasizing the potential to purchase Bitcoin exposure at a discount to market value, effectively enhancing Bitcoin holdings per share for Strive. The involvement of 117 Castell Advisory Group, a Georgia-based firm with minimal public presence aside from this partnership, adds an element of mystery to the operation.
Mt. Gox's background as a once-prominent crypto exchange that collapsed dramatically adds complexity to the situation. Over recent months, Mt. Gox has been repaying creditors using Bitcoin, and the remaining holdings represent a sizable chunk of assets. Strive is also investigating other similarly distressed sources to broaden its acquisition strategy.
Vivek Ramaswamy, known for his crypto advocacy and leadership roles, founded Strive with ambitions to create a Bitcoin Bond ETF and transition the company into a Bitcoin-focused asset manager, planning to invest billions in BTC. Merging with Asset in mid-May has bolstered Strive’s operational capabilities to pursue its Bitcoin acquisition plans.
However, competition from established corporate Bitcoin holders like MicroStrategy and Metaplanet means Strive must navigate a challenging landscape to realize its objectives. The uncertainty surrounding Mt. Gox’s repayment process and the opaque nature of the proposed deals underscore the risks and unknowns involved.
If successful, Strive’s discounted Bitcoin purchases could represent a lucrative business opportunity and solidify its status in the crypto investment arena. Conversely, this initiative could falter without significant impact, as many details remain undeclared by Strive and Ramaswamy.
For now, investors and observers must watch closely to see if Strive can pull off this ambitious strategy, which, if realized, may reshape corporate Bitcoin holdings in the months to come.