Billionaire Vivek Ramaswamy Announces Plans To Acquire 75,000 Bitcoin Under New Corporate Entity

The financial services firm co-founded by billionaire entrepreneur and former US presidential candidate Vivek Ramaswamy entered into a strategic partnership to acquire a significant amount of Bitcoin (BTC).

In a new filing with the U.S. Securities and Exchange Commission (SEC), the Ohio-based Strive says it is joining hands with 117 Castell Advisory Group LLC to secure Bitcoin holdings at a discount price.

The plan is to go after BTC claims that have already received definitive legal judgments but are still awaiting distribution.

Strive is interested in the Bitcoin claims related to Mt. Gox. The now bankrupt crypto exchange operated between 2010 and 2014 and oversaw more than 70% of Bitcoin transactions at its peak. The Tokyo-based firm collapsed following a security breach that led to the theft of 750,000 BTC.

The 75,000 BTC claims from the Mt. Gox estate are currently worth over $8.2 billion based on the flagship crypto asset’s price of $109,963.

“This strategy is intended to allow Strive the opportunity to purchase Bitcoin exposure at a discount to market price, enhancing Bitcoin per share and supporting its goal of outperforming Bitcoin over the long run.”

Strive submits the disclosure as it plans to team up with the social media marketing firm Asset Entities to form the first publicly traded asset management Bitcoin treasury company.

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Featured Image: Shutterstock/Kalifer – Art Creations