On Friday, Strive Asset Management, a firm co-founded by investor and presidential advisor Vivek Ramaswamy, announced the launch of a recent wealth management division. The initiative goals to offer “true financial freedom” for clients by integrating Bitcoin into investment portfolios as a hedge against long-term economic risks.
Strive’s Focus On Crypto Investments
The firm’s concentrate on Bitcoin concerns “persistent global challenges” akin to unsustainable debt levels, rising fixed-income yields, long-term inflationary pressures, and geopolitical instability.
Strive intends to equip on a regular basis Americans with a strong defense against these anticipated risks by incorporating Bitcoin into standard portfolios. The firm’s CEO Matt Cole stated:
Strive is constructing a new-age financial institution founded on the time-tested fiduciary principle of maximizing value over all other considerations. Our concentrate on offering clients true financial freedom — through the thoughtful integration of Bitcoin — differentiates our Wealth Management business from nearly all major competitors today. Our growth so far in Asset Management has been driven almost entirely by retail customers, and our expansion into wealth management will allow us to serve these customers more completely.
Strive’s recent wealth management business will probably be spearheaded by industry veteran Gary Dorfman, who will function president, and Randol Curtis, chief investment officer, CFA.
Along with this expansion, Strive is relocating its corporate headquarters from Columbus, Ohio, to Dallas, Texas. The corporate plans to transition most of its Columbus-based staff to Dallas by the top of Q1 2025.
The move is positioned to capitalize on Texas’s economic environment, which has gained recognition as a hub for capital and company relocation, together with Bitcoin mining operations over the past years.
It was announced that Texas Governor Greg Abbott welcomed Strive’s decision, highlighting the state’s favorable business climate and role as a future center for capital markets, including crypto.
Integrating Bitcoin into US Monetary Policy
Vivek Ramaswamy, who recently took on an advisory role for Republican candidate Donald Trump after exiting the presidential race, has been vocal in regards to the potential for Bitcoin in US monetary policy.
As reported by Bitcoinist, Ramaswamy was considered one of the primary proponents of adopting Bitcoin as a strategic reserve asset for the country, suggesting that the US dollar could possibly be backed by a basket of commodities, including BTC, to assist combat inflation and stabilize the currency’s value over time.
Last 12 months, when he was still a contender within the 2024 race, Ramaswamy also advocated a change in leadership on the US Securities and Exchange Commission as key to the proper growth of the digital assets sector, which was later adopted by Trump when he vowed to fireside the agency’s chairman, Gensler, on “day one”.
On the time of writing, BTC was trading at $69,360, down nearly 2% on a 24-hour basis.
Featured image from DALL-E, chart from TradingView.com