Strive Enterprises, co-founded by former U.S. presidential candidate Vivek Ramaswamy, has unveiled a new wealth management arm that integrates Bitcoin into client portfolios. Announced on November 1, this innovative unit aims to offer Americans “true financial freedom” by incorporating Bitcoin as a hedge against long-term financial risks, according to Strive’s CEO, Matt Cole.
Why Strive Sees Bitcoin as Essential for Financial Portfolios
Strive identified several economic challenges that Bitcoin could help offset, making it an attractive addition to traditional portfolios:
- Escalating Global Debt: As global debt continues to climb, traditional assets face growing uncertainty.
- Rising Fixed-Income Yields: Higher yields could reduce bond returns relative to inflation.
- Persistent Inflation: Strive expects inflationary pressures to be a lasting concern.
- Geopolitical Instability: Increasing international tensions introduce volatility to financial markets.
- Restrictive Monetary Policies: Strive anticipates potential monetary controls that could restrict financial autonomy.
These issues, Strive argues, make Bitcoin a compelling alternative asset within client portfolios.
Emphasis on Financial Freedom
Strive CEO Matt Cole highlighted the goal of “true financial freedom” by adding Bitcoin to standard investment options, distinguishing Strive from traditional wealth management firms. Ramaswamy reinforced this vision, noting in a recent social media post that most wealth managers overlook Bitcoin, which he sees as a missed opportunity for client protection and diversification.
Industry Leaders at the Helm
Strive’s new wealth management division is led by experienced financial professionals:
- Gary Dorfman – Former Bernstein executive, now President of the unit.
- Randol Curtis – Former Morgan Stanley executive director, serving as Chief Investment Officer.
In line with its expansion, Strive plans to move its headquarters from Columbus, Ohio, to Dallas, Texas, by March 2025. The majority of its Columbus staff is expected to relocate.
Financial Backing and Rapid Growth
The launch follows Strive’s successful $30 million Series B funding round, led by Cantor Fitzgerald, a financial services firm with a strong stance on cryptocurrency. The funding will support Strive’s expansion and development of Bitcoin-centric services. Since its first fund launch in August 2022, Strive has grown quickly and now manages $1.7 billion in assets.
Vivek Ramaswamy’s Political Background
Ramaswamy, who previously ran as a Republican candidate in the 2024 presidential race, withdrew in January, endorsing former president Donald Trump. Once considered for the role of Trump’s running mate, Ramaswamy eventually stepped aside when Ohio Senator JD Vance was selected.
With the U.S. presidential election just days away on November 5, Strive’s Bitcoin-focused offering emerges at a time when economic concerns and financial autonomy are at the forefront of public conversation
