Strive Asset Management has announced an initiative to build a 75,000 Bitcoin (BTC) treasury by buying claims from the bankrupt crypto exchange Mt. Gox. These claims, valued at about $8 billion at current market prices, have been legally approved but have yet to be distributed. Mt. Gox’s Bankruptcy Claims In a May 20 filing with the U.S. Securities and Exchange Commission (SEC), Strive announced it has entered a partnership with 117 Castell Advisory Group LLC. The deal is focused on identifying and evaluating distressed BTC claims, including those from the Mt. Gox estate. The company said its strategy aims to buy BTC exposure at lower prices than the market, which could increase the asset’s price per share. This would also support its long-term goal of performing better than the flagship cryptocurrency. To move forward with the transaction, Strive intends to submit a full filing with the SEC outlining the terms of the proposal. Asset Entities (ASST), a social media marketing firm that will soon merge with the company, will then distribute a proxy statement and prospectus to stakeholders for approval. Mt. Gox, once the largest Bitcoin exchange, handled about 70% of global BTC transactions before its collapse in 2014 due to several security breaches that led to the theft of approximately 750,000 BTC. This resulted in the platform filing for bankruptcy, which ended in a lengthy rehabilitation process to compensate creditors. Since the Japan-based exchange is scheduled to complete repayments by October 31, Strive must secure shareholder approval before then. Merger Details Earlier this month, Strive announced its upcoming merger with Asset Entities. If approved, the deal would create the first publicly-traded asset management firm focused on BTC. The new entity will operate under the ASST brand with plans to adopt a Bitcoin treasury strategy. Strive also said it will use tax-efficient methods to increase Bitcoin exposure per share. This includes giving investors the option to trade it for stock under Section 351 of the U.S. tax code to reduce tax costs. The firm plans to raise up to $1 billion through equity and debt offerings, which will be used to buy the digital asset in ways that reduce shareholder dilution. The investment company aims to use reverse mergers, discounted purchases, and hedging strategies to support shareholder value. Matt Cole, CEO of Strive, will lead the combined enterprise. The latest development comes as other firms continue expanding their Bitcoin reserves. Strategy recently disclosed a purchase of 7,390 BTC for $764.9 million, bringing its total to 576,230 BTC. Japan-based Metaplanet also added 1,004 BTC, increasing its holdings to 7,800 BTC. The post Strive Asset Management Eyes $8B in Bitcoin from Mt. Gox Claims appeared first on CryptoPotato .
The Texas House passed Senate Bill 21 (SB 21) on Wednesday to create a state-managed bitcoin reserve, advancing it to Governor Greg Abbott’s desk for final approval or veto within 20 days. Cryptocurrency in State Hands: Texas Legislature Passes Bitcoin Reserve Bill The bill, titled the Texas Strategic Bitcoin Reserve and Investment Act, aims to
Cardano stays strong near its critical level, while XRP shows potential below a pivotal barrier. Chart patterns and key signals hint at a bullish movement for these tokens. Readers will discover signs that could indicate an upward trend for these cryptocurrencies. Dive in to uncover which digital assets might surge soon. Cardano Price Analysis: Monthly Gains and Current Market Dynamics Cardano experienced a 19% surge over the last month yet showed a 10% decline over the past six months, with a recent weekly drop of nearly 11% suggesting short-term bearish pressure. Price movements reflect mixed sentiment as quick gains are accompanied by corrective dips. The evolving momentum during these periods indicates intermittent optimism balanced by market caution, highlighting shifts in investor behavior. Currently, the price ranges between approximately $0.55 and $0.78, with support near $0.41 and resistance around $0.88. The market lacks a strong bullish push or clear directional force. Monitoring price action within these levels can present trading opportunities, as a breakout above $0.88 could lead to further highs, while a drop below support may signal caution for traders. XRP: Recent Surge and Technical Levels in Focus XRP showed notable upward movement over the past month, gaining 12.36%, and an impressive 86.99% increase over the last six months. A recent one-week drop of 9.59% reflects short-term volatility amid strong longer-term growth. Price advances have pushed historical trends higher, highlighting XRP’s dynamic momentum and market recognition during this period. Current pricing centers around a range of $1.75 to $2.50. The nearest resistance is at $2.80, while support is anchored around $1.31, with second resistance and support levels at $3.55 and $0.56, respectively. Bulls and bears appear balanced, showing no clear trend. Traders may consider buying near support and selling as the price approaches resistance levels. Conclusion ADA is maintaining its recent breakout level, showing stability and strength. XRP is gathering momentum just below a key resistance. Both coins exhibit technical signals hinting at a potential upward move. The market shows promising signs for ADA and XRP, suggesting room for gains if positive factors align. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Dogecoin consolidates near a key resistance level as metrics and whale moves support upside. Whale activity and technical pressure converge near $0.239 as DOGE consolidates. Rising MVRV and stock-to-flow metrics
Bitcoin’s recent surge has caught the attention of investors, bolstered by significant spot ETF inflows and a lack of excessive leverage in the futures market. This growth is not merely
Dogecoin consolidates near a key resistance level as metrics and whale moves support upside.
This content is provided by a sponsor. Is the crypto market gearing up for its next big breakout? All signs suggest that Bitcoin ( BTC) and Ethereum ( ETH) are building momentum for a massive bull run, with experts and enthusiasts eyeing a potential moonshot. But while the crypto giants hog the limelight, there’s another
Shiba Inu ( SHIB ), the beloved meme-based cryptocurrency, continues to capture investor interest with its current price of $0.0000146 . Backed by its devoted community and innovative initiatives like Shibarium, its Layer 2 solution, SHIB is riding a wave of bullish sentiment. The token recently saw a 6.65% jump as bulls pushed through key resistance levels. Despite 80% of its holders being underwater, the community’s optimism and development efforts remain undeterred. While Shiba Inu holds its ground in the meme coin category, a new player Ruvi AI is shaking the investment landscape with its decentralized AI-driven superapp . Ruvi AI Charts a New Course in Decentralized Technology Ruvi AI pairs the power of artificial intelligence with blockchain transparency, creating an ecosystem designed for adaptability, security, and scalability. By addressing modern challenges with innovative technology, it’s gaining recognition as a community-first platform supported by strong fundamentals. With Ruvi AI, users can access hyper-efficient solutions driving value across industries. Unmatched Success in Ruvi AI’s Presale Performance Ruvi AI’s presale is a case study in success , boasting a Phase 1 sellout in just over two weeks that delivered an impressive 50% ROI to early investors. With tokens currently priced at $0.015 , the next phase will see a 0.33% price increment , making it one of the most promising early-stage investments in the market. Adding to its credentials, Ruvi AI has partnered with WEEX Exchange , leveraging the platform’s global presence to ensure token accessibility and visibility. Market analysts forecast that Ruvi tokens could achieve a valuation of $1 , underscoring its long-term potential. A Lucrative Investment Opportunity with Tailored Rewards Ruvi AI offers an attractive, tiered investment structure designed to maximize returns for participants at every level. VIP Tier Breakdown: VIP Tier 1 ($480 investment with 20% bonus): Tokens received: 38,400 (32,000 base + 6,400 bonus). Value at $0.07 listing price: $2,688 . Value at $1 evaluation: $38,400 . VIP Tier 3 ($1,650 investment with 60% bonus): Tokens received: 176,000 (110,000 base + 66,000 bonus). Value at $0.07 listing price: $12,320 . Value at $1 evaluation: $176,000 . VIP Tier 5 ($9,000 investment with 100% bonus): Tokens received: 1,200,000 (double base allocation). Value at $0.07 listing price: $84,000 . Value at $1 evaluation: $1,200,000 . Exclusive Leaderboard Rewards Ruvi AI further incentivizes participation through its leaderboard rewards , rewarding top contributors with massive bonuses: Top 10 Contributors: Receive 500,000 bonus tokens , valued at $35,000 at $0.07 or $500,000 at $1 . Top 50 Contributors: Earn 250,000 bonus tokens , worth $17,500 at $0.07 or $250,000 at $1 . Top 100 Contributors: Gain 100,000 bonus tokens , equaling $7,000 at $0.07 or $100,000 at $1 . Why Ruvi AI is the Smart Investment Choice Ruvi AI is creating a new era of decentralized innovation , blending AI advancements with blockchain to deliver unique values. With its strong fundamentals, strategic partnerships, and community-centric approach, Ruvi AI is rapidly becoming a must-have investment for tech-savvy and traditional investors alike! Learn More Buy RUVI: https://presale.ruvi.io Website: https://ruvi.io Whitepaper: https://docs.ruvi.io Telegram: https://t.me/ruviofficial Twitter/X: https://x.com/RuviAI Try RUVI AI: https://web.ruvi.io/register Disclaimer: This is a sponsored press release for informational purposes only. It does not reflect the views of Times Tabloid, nor is it intended to be used as legal, tax, investment, or financial advice. Times Tabloid is not responsible for any financial losses. The post Shiba Inu (SHIBA) Rises to $0.0000146 Thanks To Community Enthusiasm, While Ruvi AI (RUVI) Is Expect To Deliver More With Real Word Applications appeared first on Times Tabloid .
A widely followed crypto strategist believes Bitcoin ( BTC ) is primed to ignite a massive explosion after breaking out from a bullish continuation pattern. Pseudonymous analyst TechDev tells his 523,300 followers on the social media platform X that Bitcoin has broken out of a cup-and-handle pattern on the two-week chart. The pattern typically indicates that an asset is ready to spark a new uptrend after a period of consolidation. TechDev also points out that Bitcoin’s cup-and-handle breakout looks very similar to gold’s eruption over the past two years. “When cup-and-handles hit with precision. Bitcoin’s turn…” Source: TechDev/X Looking at the trader’s chart, he seems to predict that the pattern breakout will push BTC to as high as $300,000. Earlier this month, TechDev said that a surging global liquidity and capital reallocation would serve as tailwinds for BTC’s ascent to new record levels. “Gold goes parabolic > Liquidity breaks out > Flows to BTC + rotation from gold sends BTC parabolic Not an original story.” At time of writing, Bitcoin is trading for $106,709. Turning to the altcoin market, the crypto analyst says he’s keeping a close watch on the TOTAL 3 chart, which tracks the market cap of all digital assets excluding Bitcoin, Ethereum and stablecoins. TechDev believes that altcoins are gearing up for a meteoric ascent after going through four years of price compression. “I don’t think many comprehend what’s coming in the altcoin market.” Source: TechDev/X Follow us on X , Facebook and Telegram Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Analyst Predicts Massive Bitcoin Eruption Based on One Gold Chart, Sees Altcoin Market Following Suit appeared first on The Daily Hodl .