Key Takeaways
- Strive's new division integrates Bitcoin to hedge economic risks.
- Co-founder Vivek Ramaswamy advocates Bitcoin for financial independence.
- Strive raised $30 million in Series B funding, led by Cantor Fitzgerald.
Strive Enterprises, an asset management firm co-founded by Vivek Ramaswamy, announced the launch of a Dallas-based wealth management division that will integrate Bitcoin into client portfolios as a long-term hedge.
This new unit reflects Strive’s strategy to counter conventional environmental, social, and governance (ESG)-focused investments, instead prioritizing financial independence through “pro-capitalist” investing.
Bitcoin strategy
Strive’s decision to incorporate Bitcoin aims to protect client assets against risks such as inflation, rising bond yields, geopolitical tensions, and restrictive monetary policies.
Ramaswamy noted the benefits of Bitcoin in providing resilience amid global debt and economic uncertainty. He said:
We’re taking our mission of financial independence a step further.
CEO comments
CEO Matt Cole added that Bitcoin serves as a tool for “financial resilience,” helping clients navigate long-term risks.
This move follows a $30 million Series B funding round led by Cantor Fitzgerald, enabling Strive to expand its reach and relocate its headquarters from Ohio to Dallas.
The new wealth division will be led by industry veterans Gary Dorfman and Randol Curtis, who bring experience from top firms like Morgan Stanley.
Trump connection
Ramaswamy, also a prominent advisor to Donald Trump’s 2024 campaign, has described Bitcoin as an “opt-out” from traditional financial systems, promoting it as a check on Federal Reserve policies and currency manipulation.
Strive’s integration of Bitcoin aligns with Ramaswamy’s goal of reshaping financial practices, reflecting a broader vision of economic independence.
