Strive Asset Management, associated with Vivek Ramaswamy, plans to acquire at a discount claims to 75,000 BTC from the bankrupt exchange Mt. Gox to establish a bitcoin reserve.
Castell Advisory Group LLC is acting as an advisor in the potential deal.
The firm anticipates the commencement of claim distribution for the platform’s assets in the near future.
If the coins are purchased at a discount, Strive Asset Management will increase the bitcoin-to-share ratio ahead of the planned reverse merger with Asset Entities, set for mid-year.
According to the company’s statement, acquiring the first cryptocurrency will involve fewer restrictions than those faced by organizations going public through a merger with an SPV.
The purchase of digital gold is subject to shareholder approval following the submission of the relevant document to the SEC.
Experts at Bernstein believe the bitcoin strategy is not applicable to every project. The most suitable candidates are companies with low growth rates and high levels of cash.
Analysts suggest that by 2029, corporations will increase the amount of digital gold on their balance sheets to $330 billion, with Strategy remaining the leader in acquisitions.
Earlier, Twenty One Capital, established by Cantor Fitzgerald with a charter fund of 42,000 BTC, aims to challenge Michael Saylor’s corporation.