On Friday, Strive Asset Management, a company co-founded by investor and presidential advisor Vivek Ramaswamy, announced the launch of a new asset management department. The initiative aims to provide customers with “real financial freedom” by integrating Bitcoin into investment portfolios as a hedge against long-term economic risks.
Strive’s focus on crypto investments
The company’s focus on Bitcoin concerns “ongoing global challenges” such as unsustainable debt levels, rising fixed income rates, long-term inflationary pressures and geopolitical instability.
Strive is planning to equip everyday Americans with a robust defense against these expected risks by including Bitcoin in standard wallets. Company CEO Matt Cole stated:
Strive is building a new financial institution based on the proven fiduciary principle of maximizing value above all other considerations. Our focus on providing clients with true financial freedom – through the thoughtful integration of Bitcoin – sets our wealth management business apart from almost all of today’s major competitors. Our growth to date in wealth management has been almost entirely due to private clients, and our expansion into wealth management will allow us to serve these clients more fully.
Strive’s new asset management business will be led by industry veteran Gary Dorfman, who will become president, and Randol Curtis, CFA’s chief investment officer.
In conjunction with this expansion, Strive is moving its headquarters from Columbus, Ohio, to Dallas, Texas. The company plans to move most of its Columbus-based workforce to Dallas by the end of the first quarter of 2025.
The move is positioned to benefit Texas’s economic environmentwhich has gained recognition in recent years as a hub for capital and business movements, along with Bitcoin mining operations.
It was announced that Texas Governor Greg Abbott welcomed Strive’s decision, highlighting the state’s favorable business environment 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 leaving the government presidential racehas spoken out about Bitcoin’s potential in US monetary policy.
If reported by Bitcoinist Ramaswamy was one of the early proponents of adopting Bitcoin as a strategic reserve for the country, suggesting that the US dollar could be backed by a basket of commodities, including BTC, to help combat inflation and increase the value of stabilize the currency over time. .
Last year, when he was still a contender in the 2024 race, Ramaswamy also advocated a change in leadership at the US Securities and Exchange Commission as key to the proper growth of the digital asset sector, which was later taken over by Trump when he promised to fire the agency’s chairman, Gensler, on “day one.”
At the time of writing, BTC was trading at $69,360, down almost 2% on a 24-hour basis.
Featured image of DALL-E, chart from TradingView.com