Originally published on: November 04, 2024
Strive Enterprises, the asset management firm co-founded by Vivek Ramaswamy, a former United States presidential candidate, has made a bold move by launching a new wealth management unit that prominently features Bitcoin in client portfolios. This strategic decision was announced on Nov. 1 as part of the firm’s commitment to providing clients with innovative and forward-thinking financial solutions.
According to Ramaswamy’s firm, the integration of Bitcoin in client portfolios is aimed at serving as a hedge against various risks that are expected to persist over the coming decades. These risks include unsustainable global debt levels, rising fixed-income yields, long-term inflationary pressures, geopolitical challenges, and potential restrictive monetary controls. By incorporating Bitcoin into standard portfolios, Strive Enterprises hopes to offer clients a level of financial security and protection that sets them apart from other wealth management firms.
Matt Cole, the CEO of Strive Enterprises, emphasized the importance of offering clients true financial freedom through the integration of Bitcoin. He highlighted the fact that many wealth managers have not yet considered including Bitcoin in their client portfolios, making Strive Enterprises a trailblazer in this area.
The newly established wealth management unit will be led by industry veterans Gary Dorfman and Randol Curtis, who bring a wealth of experience from their previous positions at top financial institutions. In addition to this expansion, Strive Enterprises is relocating its corporate headquarters to Dallas, Texas, signaling a new chapter of growth and opportunity for the firm.
Strive Enterprises’ recent success, including a $30 million Series B financing round led by Cantor Fitzgerald, has solidified its position as a major player in the asset management industry. With $1.7 billion in assets under management since its inception, the firm is poised for continued success and growth in the years to come.
As the US presidential election approaches on Nov. 5, Strive Enterprises’ Bitcoin-focused announcement adds an intriguing element to the conversation. With Vivek Ramaswamy’s background as a former Republican candidate and strong supporter of Donald Trump, the firm’s decision to integrate Bitcoin into client portfolios reflects its commitment to offering cutting-edge financial solutions in a rapidly evolving market.
