Strive’s Bitcoin Heist: 75,000 BTC from Mt. Gox’s Ashes! 🤑💰

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Oh, dear readers, gather ’round and let me tell you a tale of cunning and crypto! Vivek Ramaswamy’s Strive is on a mission to snatch up 75,000 Bitcoin from the wreckage of the infamous Mt. Gox. Imagine that! It’s like finding a treasure chest full of golden coins in a shipwreck, but instead of pirates, we have tech wizards and financial gurus. 🏴‍☠️💻

On May 20, Strive announced a partnership with 117 Castell Advisory Group LLC, a move that’s as exciting as a chocolate factory tour. The rulings have been made, but the Bitcoin hasn’t been handed out yet. It’s like waiting for your birthday present, but the present is a whole lot of digital gold. 🎁💰

By buying these claims, Strive can get Bitcoin at a bargain price, which is like getting a discount on the most expensive candy in the world. This will boost the number of Bitcoin per share before the big reverse merger with Asset Entities. It’s a bit like trading in your old bicycle for a shiny new one, but in the world of finance. 🚲➡️✨

The merger is set to happen by mid-2025, and Strive is keeping its Bitcoin stash a secret, like a magician’s trick. But they boast that they face fewer restrictions than companies using SPAC mergers for their IPOs. It’s like being the only kid in the playground who doesn’t have to follow the rules. 🛡️🚫

Before they can file the paperwork with the SEC, Strive needs to get the green light from its shareholders. A proxy statement will be sent out to ask for their approval. Mt. Gox, on the other hand, is in a rush to return all the money to creditors by October 31, like a kid trying to clean their room before their parents get home. 🏃‍♂️💨

Back in 2014, Mt. Gox, the biggest Bitcoin exchange, went belly-up after losing about 750,000 Bitcoin in a hack. It was a disaster of epic proportions, like a chocolate factory flooding with molten chocolate. 🌊🍫 Strive’s decision to become a Bitcoin treasury company is part of a growing trend where companies are investing in Bitcoin for the long haul. It’s like planting a tree and waiting for it to grow into a forest. 🌲🌱

After the news, Asset Entities’ shares soared 18.2% on May 20, making the company worth a whopping $122 million. As a result of the merger, Strive will control 94.2% of the new company, which will be listed as ASST. With this strategy, Strive could quickly become a key player in the Bitcoin world, like a giant in a land of dwarfs. 🏆👑

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2025-05-21 09:56