Vivek Ramaswamy’s Bold Play: Snagging Mt. Gox’s Distressed Bitcoin Claims to Fuel a Corporate BTC Treasury

Move over, Wall Street—there’s a new arbitrage game in town. Presidential hopeful and crypto-opportunist Vivek Ramaswamy is making waves with a high-stakes bet: scooping up discounted Bitcoin claims from the ashes of Mt. Gox. The endgame? A corporate treasury stacked with BTC, because nothing says ’trustless’ like a politician hedging with Satoshi’s creation.

Ramaswamy’s Strive Asset Management isn’t just dipping toes—it’s diving headfirst into the wreckage of crypto’s most infamous collapse. The play? Capitalize on creditors’ impatience, snag cheap BTC, and maybe—just maybe—spin it into a PR win. After all, what’s more bullish than a politician-turned-crypto-whisperer?

Critics are already rolling their eyes. ’Another finance bro chasing volatility,’ mutters one hedge fund manager, sipping his overpriced latte. But love it or hate it, the move underscores Bitcoin’s creeping legitimacy—or desperation, depending on who you ask. Either way, Ramaswamy’s betting the house on crypto’s comeback. Buckle up.

Strive to Build Bitcoin Treasury

Strive noted that the strategic transaction will allow the firm to build Bitcoin treasury.

Early this month, the asset management firm revealed a blueprint to stockpile Bitcoin with a merger. During Bitcoin For Corporations at Strategy World 2025, the firm noted that it will merge with NASDAQ-listed Asset Entities to FORM a public Bitcoin Treasury Company.

“Strive Asset Management believes the best current opportunity to maximize long-run value for corporations is to build a war chest of Bitcoin,” the company said in a detailed presentation.

Furthermore, buying the Bitcoin claims would grow Strive’s BTC per share ratio ahead of the planned reverse merger with Asset Entities.

Source: Strive

Strive’s move to become a Bitcoin treasury firm comes as there is an institutional pivot towards the largest crypto. Recently, Jack Mallers-led firm, Twenty One Capital, said that it would hold over 42,000 Bitcoin at launch. The new Bitcoin treasury firm is backed by Tether and SoftBank Group.

Mt. Gox to Repay Creditors by October

The company is required to obtain shareholder approval soon, since Mt. Gox is planning to fully repay its creditors by October 2025.

The bankrupt exchange, which was once the largest bitcoin exchange processing most global BTC trades, extended the deadline for its creditor repayment after a Tokyo court assigned a trustee to oversee the distribution of remaining assets to creditors.

Mt. Gox collapsed in 2014 following a massive security breach, leading to the loss of 950,000 BTC, a sum valued at over $102 billion today.