Strive aims to build its Bitcoin treasury by purchasing 75,000 Bitcoin claims from Mt. Gox at a discount through a partnership with 117 Castell Advisory Group LLC.
The company plans to increase its Bitcoin holdings to enhance its Bitcoin per share ratio before a reverse merger with Asset Entities, expected to be completed mid-year.
Strive will need shareholder approval to pursue Mt. Gox claims and intends to file details of the transaction with the SEC followed by a proxy statement for shareholders' consent.
The move by Strive to become a Bitcoin treasury company aligns with the industry trend of firms incorporating Bitcoin as a strategic asset on their balance sheets for the long term.