Republican

JD Vance

Bitcoin

Strive Enterprises, an asset management firm co-founded by former United States presidential candidate Vivek Ramaswamy, announced a new wealth management unit on Nov. 1 that integrates Bitcoin into client portfolios.
“A key part of this business will include a focus on integrating Bitcoin into standard portfolios of everyday Americans as a hedge against risks Strive expects to persist over the next several decades,” Ramaswamy’s firm <a data-ct-non-breakable="null" href="https://www.prnewswire.com/news-releases/strive-launches-new-wealth-management-business-to-offer-true-financial-freedom-to-american-clients-302293597.html" rel="null" target="null" text="null" title="null">said</a> in a Nov. 1 statement.
The firm cited unsustainable global debt levels, rising fixed-income yields, long-run inflationary pressures, geopolitical pressures, and potential restrictive monetary controls as examples.&nbsp;
It’s one of the latest examples of asset managers resorting to Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) to hedge against such risks.
Strive’s CEO Matt Cole explained: “Our focus on offering clients true financial freedom — through the thoughtful integration of Bitcoin — differentiates our Wealth Management business from nearly all major competitors today.”
“It’s striking that most wealth managers aren’t even thinking about integrating Bitcoin into client portfolios,” Ramaswamy <a data-ct-non-breakable="null" href="https://x.com/VivekGRamaswamy/status/1852402967120404683" rel="null" target="null" text="null" title="null">added</a> in a Nov. 1 X post.
<figure>
 <img alt="Ramaswamy’s Strive launches wealth management arm offering Bitcoin to clients" src="https://s3.cointelegraph.com/uploads/2024-11/0192f483-af6d-7064-a2fe-55c234fc2c99" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/VivekGRamaswamy/status/1852402967120404683" rel="null" target="null" text="null" title="https://x.com/VivekGRamaswamy/status/1852402967120404683">Vivek Ramaswamy</a>
 </figcaption>
</figure>
Strive’s new wealth management unit will be led by ex-Bernstein executive Gary Dorfman as president and ex-Morgan Stanley executive director Randol Curtis as chief investment officer.
The firm’s expansion is also paired with a relocation of Strive’s corporate base to Dallas, Texas.&nbsp;
The company expects most of its Columbus-based staff to relocate to Dallas by the end of March 2025.
Strive’s announcement follows its recent close of a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/cantor-fitzgerald-announces-2b-bitcoin-financing-business" rel="null" target="null" text="null" title="null">$30 million Series B financing round</a> led by <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/howard-lutnick-urges-bitcoin-commodity-status-regulatory-action" rel="null" target="null" text="null" title="null">Cantor Fitzgerald,</a> which banks <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/stablecoins-101-what-are-crypto-stablecoins-and-how-do-they-work" rel="null" target="null" text="null" title="null">stablecoin issuer Tether.</a> Its CEO, Howard Lutnick, is also a strong Bitcoin advocate.&nbsp;
Strive has amassed $1.7 billion worth of assets under management since launching its first fund in August 2022.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-promises-crypto-election-usa" rel="null" target="null" text="null" title="null">Trump makes big promises about crypto in US — But can he deliver?</a>
Ramaswamy ran as a Republican candidate until January <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/vivek-ramaswamy-drops-out-us-presidential-race-pro-crypto-candidate" rel="null" target="null" text="null" title="null">when he dropped out</a> and threw support behind former president Donald Trump.&nbsp;
He was briefly touted as a potential running mate for Trump before Ohio Senator JD Vance was chosen as the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/trump-jd-vance-running-mate-republican-party" rel="null" target="null" text="null" title="null">Republican vice-presidential nominee</a> in July.
Strive’s Bitcoin announcement comes days ahead of the <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/united-states-election-crypto-market-volatility-trump-harris-falconx" rel="null" target="null" text="null" title="null">US presidential election</a> scheduled for Nov. 5.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/bitcoiners-all-in-trump-since-bitcoin-2024-getting-risky/" rel="null" target="null" text="null" title="null">Bitcoiners are ‘all in’ on Trump since Bitcoin ’24, but it’s getting risky</a>

Ramaswamy’s Strive launches wealth management arm offering Bitcoin to clients

Cointelegraph

Other articles published on Nov 4, 2024

Sui Announces Integration with Google Cloud to Boost Real-Time Blockchain Data Access

Cardano Faces Challenges as Market Uncertainty Grows

Hedera Integrates LayerZero Amid Mainnet v0.54 Release

Baking Soda Labs Launches Web3 Platform Turning Engagement into Rewards

Binance Co-Founder Yi He Denies Claims of High Listing Fees on the Exchange

MetaWin Casino Hit by $4M Hack

Join our free newsletter for daily crypto updates!