Strive launches Bitcoin wealth management with $1.7B assets

Strive Enterprises, co-founded by former U.S. presidential candidate Vivek Ramaswamy, has introduced a new wealth management division focused on integrating Bitcoin (CRYPTO:BTC) into client portfolios.

Announced on November 1, this initiative aims to position Bitcoin as a hedge against global economic uncertainties, including rising debt, inflationary pressures, and potential geopolitical tensions, according to a company statement.

“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,” Strive’s CEO Matt Cole emphasised, highlighting the company’s unique approach.

“It’s striking that most wealth managers aren’t even thinking about integrating Bitcoin into client portfolios,” Ramaswamy noted in a November 1 post on X, echoing this sentiment.

Led by former Bernstein executive Gary Dorfman as president and ex-Morgan Stanley executive Randol Curtis as chief investment officer, Strive’s new unit intends to offer clients an alternative investment strategy with Bitcoin at its core.

The firm recently completed a $30 million Series B funding round, spearheaded by Cantor Fitzgerald, which has strong ties to stablecoin issuer Tether and is led by Bitcoin proponent Howard Lutnick.

In line with its expansion, Strive is relocating its headquarters to Dallas, Texas, with plans for its Columbus-based team to transition by March 2025.

Since its first fund launch in August 2022, Strive has accumulated $1.7 billion in assets under management.

This latest announcement comes just days before the U.S. presidential election on November 5, following Ramaswamy’s political journey, where he supported former President Donald Trump after ending his own campaign earlier this year.

At the time of reporting, the Bitcoin price was $68,746.85.