Investment Firm Pursues Strategic Entry into Bitcoin via Legal Settlements

The plan surfaced through a May 20 SEC filing, revealing that Strive has partnered with an obscure firm—117 Castell Advisory Group—to track down Bitcoin tied to bankruptcy proceedings and distressed legal settlements. The idea is simple: scoop up exposure to Bitcoin at a discount before it hits the open market.

Mt. Gox, which collapsed a decade ago, still holds around 75,000 BTC earmarked for creditor repayment. Whether Strive will gain access to that pool remains uncertain, as repayment efforts are still underway. The firm is also exploring other sources of locked or discounted BTC claims, though no specifics have been disclosed.

Ramaswamy, who’s recently pivoted Strive into Bitcoin-heavy territory, has laid out a broader ambition to pour billions into BTC. Earlier this month, Strive merged with Asset to enhance its buying capability and scale up operations. While companies like MicroStrategy have set the pace, Strive’s angle—seeking value in crypto’s legal shadows—marks a different kind of bet.

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For now, the details are thin. Most of the public filing focuses on legal groundwork, offering little insight into how or when Bitcoin would be acquired. But if the play works, Strive could secure a significant amount of BTC at below-market cost—a rare feat in today’s competitive crypto landscape.

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