On Friday, Strive Asset Management, a firm co-founded by investor and presidential advisor Vivek Ramaswamy, x.com/VivekGRamaswamy/status/1852402967120404683″ target=”_blank” rel=”noopener nofollow”>announced the launch of a new wealth management division. The initiative aims to provide “true financial freedom” to clients by integrating bitcoin into investment portfolios as a hedge against long-term economic risks.
Strive's Approach to Cryptocurrency Investments
The company's focus on bitcoin addresses “persistent global challenges” such as unsustainable debt levels, rising fixed income yields, long-term inflationary pressures, and geopolitical instability.
Strive has the intention equip everyday Americans with a strong defense against these anticipated risks by incorporating bitcoin into standard wallets. The company's CEO, Matt Cole, stated:
Strive is building a new-age financial institution based on the time-tested fiduciary principle of maximizing value above all other considerations. Our focus on offering clients true financial freedom, through the careful integration of bitcoin, differentiates our wealth management business from almost all of today's major competitors. Our growth to date in asset management has been driven almost entirely by retail clients, and our expansion into wealth management will allow us to serve these clients more comprehensively.
Strive's new wealth management business will be led by industry veteran Gary Dorfman, who will serve as president, and Randol Curtis, CFA's chief investment officer.
Along with this expansion, Strive will move its corporate headquarters from Columbus, Ohio, to Dallas, Texas. The company plans to move most of its Columbus-based staff to Dallas by the end of the first quarter of 2025.
The measure is positioned to capitalize on the situation in Texas. economic environmentwhich has gained recognition as a hub for capital and business relocation, along with bitcoin mining operations in recent years.
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 hub for capital markets, including crypto.
Integrating bitcoin into US monetary policy
Vivek Ramaswamy, who recently took on an advisory role to Republican candidate Donald Trump after leaving the presidential racehas expressed his opinion on the potential of bitcoin in US monetary policy.
As reported According to Bitcoinist, Ramaswamy was an early proponent 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 help combat inflation and stabilize the currency value over time. .
Last year, while still a contender in the 2024 race, Ramaswamy also advocated for a leadership change at the US Securities and Exchange Commission as key to the proper growth of the digital asset sector, which was later adopted by Trump when fiance fire agency president Gensler on “day one.”
At the time of writing, btc was trading at $69,360, down almost 2% in 24 hours.
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