On Friday, Strive Asset Management, a company co-founded by investor and presidential adviser Vivek Ramaswamy, announced launching a current asset management department. The initiative aims to provide customers with “true financial freedom” by integrating Bitcoin into investment portfolios as a hedge against long-term economic risk.
Strive focuses on cryptocurrency investments
The company’s focus on Bitcoin addresses “ongoing global challenges” such as unsustainable debt levels, rising fixed-income yields, long-term inflationary pressures and geopolitical instability.
Try strenuous intends to equipping everyday Americans with resilient protection against anticipated threats by including Bitcoin in standard wallets. Company CEO Matt Cole stated:
Strive is building a new-age financial institution based on the proven fiduciary principle of maximizing value above all other considerations. Our focus on offering clients true financial freedom – through thoughtful Bitcoin integration – sets our wealth management business apart from almost all of today’s major competitors. Our growth in asset management to date has been driven almost exclusively by retail clients, and our expansion into wealth management will enable us to more fully serve these clients.
Strive’s current wealth management division will be led by industry veteran Gary Dorfman, who will serve as 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 relocate most of its staff from Columbus to Dallas by the end of the first quarter of 2025.
The move aims to take advantage of Texas economic environmentwhich in recent years has gained recognition as a center for capital and enterprise relocation, as well as Bitcoin mining operations.
It was announced that Texas Governor Greg Abbott welcomed Strive’s decision, highlighting the state’s favorable business climate and its role as a future center for capital markets, including cryptocurrencies.
Bitcoin integration with US monetary policy
Vivek Ramaswamy, who recently left the Republican Party, took over as an advisor to Republican Party candidate Donald Trump presidential racehe has been vocal about Bitcoin’s potential in US monetary policy.
How reported by Bitcoinist Ramaswamy was an early advocate of adopting Bitcoin as a strategic reserve asset for the country, suggesting that the US dollar could be backed by a basket of commodities, including BTC, to facilitate fight inflation and stabilize the currency’s value over time.
Last year, while still a contender in the 2024 race, Ramaswamy also advocated for a leadership change at the U.S. Securities and Exchange Commission as key to the fit development of the digital asset sector, a position later embraced by Trump when he vowed fire the agency’s president, Gensler, on “day one.”
At the time of writing, BTC is trading at $69,360, down almost 2% in 24 hours.
Featured image from DALL-E, chart from TradingView.com
