Strive’s Daring Bitcoin Heist: Will They Strike Gold or Fool’s Gold? 💰

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  • Strive aspires to procure a staggering 75,000 BTC through the whimsical world of discounted Mt. Gox bankruptcy claims.
  • A reverse merger with the illustrious ASST shall elevate Strive to the hallowed halls of the NYSE, whilst expanding its crypto dominion.

Ah, Strive Asset Management! Co-founded by the ever-ambitious entrepreneur and former presidential candidate, Vivek Ramaswamy, this audacious venture is setting its sights on a most daring Bitcoin acquisition strategy, targeting claims from the long-forgotten Mt. Gox exchange. One must wonder, is this a stroke of genius or merely a delightful folly?

Strive Asset Management’s Bitcoin Bonanza

In a recent SEC filing, the firm unveiled its grand plans to acquire approximately 75,000 BTC, a treasure trove worth over $8 billion, through the enchanting realm of discounted bankruptcy claims. Indeed, they aim to enhance their Bitcoin per share and outshine the asset in the long run. A noble quest, indeed!

In collaboration with the illustrious 117 Castell Advisory Group, Strive is diligently assessing legally confirmed claims, all while awaiting the ever-elusive shareholder approval. They shall soon embark on an SEC Form S-4 registration to propel this proposal into the limelight.

This ambitious endeavor coincides with preparations for a reverse merger with the Texas-based Asset Entities – a social media marketing firm, trading under the rather amusing ticker ASST. One can only chuckle at the delightful irony!

While Strive has yet to disclose any current Bitcoin holdings, they assure us that they shall encounter fewer regulatory hurdles than those poor souls attempting to go public via SPAC mergers. A comforting thought, indeed!

Should this merger come to fruition, Strive will find itself basking in the glory of a listing on the New York Stock Exchange, poised to command a staggering 94% of the newly merged entity. Talk about a power play!

Asset Entities Shares Soar to New Heights

It is worth noting that since the fateful announcement of the merger on May 7th, Asset Entities (ASST) has experienced a meteoric rise. Its shares have soared by 25.45% to a delightful $9.70 by May 20th, as reported by the ever-reliable Google Finance.

This rally has propelled its market cap to a jaw-dropping $122.1 million, marking an astonishing 1,170% increase since the news of the merger with Strive broke. One can only imagine the champagne flowing in celebration!

Coincidentally, Bitcoin is trading at over $111,000 at press time, having enjoyed a delightful hike of 5.65% in the last 24 hours. A match made in financial heaven!

It is projected that upon the completion of the reverse merger, Strive will command a remarkable 94.2% of the newly formed Bitcoin investment company, while Asset Entities will retain a modest 5.8% stake. A curious arrangement, indeed!

Thus, with Mt. Gox planning to repay creditors in full by October 2025, Strive finds itself racing against time to secure shareholder approval for its whimsical Bitcoin acquisition strategy. Will they succeed, or will they be left with naught but dreams of digital gold?

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2025-05-22 09:46