On Friday, Strive Asset Management, a company co-founded by investor and presidential advisor Vivek Ramaswamy, Announce Launching a new wealth management department. The initiative aims to provide “true financial freedom” to clients by integrating Bitcoin into investment portfolios as a hedge against long-term economic risks.
We strive to focus on crypto investments
The company’s focus on Bitcoin relates to “ongoing global challenges” such as unsustainable debt levels, rising fixed income yields, long-term inflationary pressures, and geopolitical instability.
He works hard He intends To provide ordinary Americans with a strong defense against these perceived risks by integrating Bitcoin into standard wallets. Company CEO Matt Cole said:
Strive is building a modern financial institution founded on the time-tested fiduciary principle of maximizing value over all other considerations. Our focus on delivering true financial freedom to clients – through thoughtful integration of Bitcoin – sets our wealth management business apart 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 fully.
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.
In conjunction with this expansion, Strive is moving its corporate headquarters from Columbus, Ohio, to Dallas, Texas. The company plans to move most of its Columbus-based employees to Dallas by the end of the first quarter of 2025.
The move is designed to benefit the state of Texas Economic environmentwhich has gained recognition as a hub for capital and corporate transfers, along with Bitcoin mining operations over the past 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 cryptocurrencies.
Integrating Bitcoin into US monetary policy
Vivek Ramaswamy, who recently took on an advisory role for Republican nominee Donald Trump after his exit from the Republican Party Presidential racehas been vocal about Bitcoin’s potential in US monetary policy.
like I mentioned By Bitcoinist Ramaswamy was one of the early proponents 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 Bitcoin, to help fight inflation and stabilize the value of the currency over time. .
Last year, when he was still a contender in the 2024 race, Ramaswamy also called for a change in leadership at the US Securities and Exchange Commission as key to the right growth of the digital assets sector, which Trump later embraced when he assumed the presidency of the United States. pledge To fire agency head Gensler on “day one.”
At the time of writing, Bitcoin was trading at $69,360, down about 2% over 24 hours.
Featured image of DALL-E, chart from TradingView.com
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