Strive is set to boost its Bitcoin holdings by acquiring distressed Bitcoin claims from the collapsed Mt Gox exchange targeting rights linked to 75,000 Bitcoin. Partnering with 117 Castell Advisory Group the firm aims to buy claims that have legal approval but are waiting distribution offering a chance to buy Bitcoin at a discount.

The move supports Strive’s plan to become a Bitcoin treasury company before its expected reverse merger with Asset Entities later this year. The company says it faces fewer restrictions than others going public via SPACs and plans to file transaction details with the SEC before seeking shareholder approval.

Asset Entities shares jumped 18 percent following the announcement closing at $7.74 dollars and pushing its market cap to $122 million. Strive will own over 94 % of the merged firm which will continue trading under the ASST ticker. This push into crypto reflects a growing trend of companies adopting Bitcoin as a strategic asset for long term growth.

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