Strive Asset Management, under the leadership of Vivek Ramaswamy, has unveiled plans to build a strategic Bitcoin reserve. As part of this initiative, the firm is aiming to acquire 75k Bitcoins from the collapsed Mt. Gox exchange at a discounted rate. For this, Strive has partnered with 117 Castell Advisory Group.
Key elements of Ramaswamy’s strategy include:
- A tax-free swap of Bitcoin for equity
- Mergers with overcapitalised firms
- Leveraging fixed-income instruments
Strive has submitted the necessary regulatory filings on 20 May. Shareholder approval is required before the transaction can move forward.
Ramaswamy's close ties with President Donald Trump and his past collaboration with Elon Musk's DOGE during his administrative tenure may provide him with an advantageous position. These relationships could help him navigate regulatory processes more smoothly, potentially avoiding administrative obstacles in establishing the Bitcoin reserve.
