Strive Enterprises launches a Bitcoin-focused wealth management division, aiming to integrate Bitcoin into portfolios as a hedge against economic challenges.
Strive Enterprises, co-founded by Vivek Ramaswamy and Anson Frericks, launched its new wealth management division on Friday. This initiative aims to incorporate Bitcoin into standard investment portfolios. The company sees Bitcoin as a hedge against various economic challenges, including global debt, rising interest rates, and inflationary pressures.
It comes after the closing of the $30 million Series B funding, which involved participation by Cantor Fitzgerald. This firm has the distinction of having Tether as its client, and CEO Howard Lutnick supports Bitcoin. In addition, Lutnick is also expected to co-chair Donald Trump’s transition team if Trump wins the next election.
For example, Matt Cole, the CEO of Strive, underlined the company’s focus on innovative wealth management solutions. Further, he said the firm seeks to deliver real financial liberty to clients by carefully including Bitcoin in their investment plans. This focus sets Strive apart from many of its competitors within the industry.
As part of the announcement, Strive will relocate its headquarters from Columbus, Ohio, to Dallas, Texas, on the launch day. The company believes that most of its Columbus employees will have moved to the new office by the end of Q1 2025. The move is consistent with the firm’s future expansion, as its Asset Management division has recently crossed the $1.7 billion AUM mark.
Cole further expressed that Strive is creating a new generation of financial institutions that must serve the fiduciary value maximization principle. He pointed out that the firm’s expansion mainly comes from various retail customers. Moreover, the new wealth management division seeks to meet these clients’ needs better.
Strive Enterprises Launches Wealth Management Amid Texas Business Boom
Texas Governor Greg Abbott extended a warm welcome to Strive to the state as Texas establishes itself as a capital hub. He said that Dallas was one of the most thriving cities in the United States for business and commended the state for its positive attitude towards business. Further, he said he welcomed Strive’s relocation and the possibility of generating employment and stimulating the creation of new companies in the area.
Ramaswamy then recalled the state of the corporate world since the Strive Company was established in 2022, where many organizations had begun integrating ESG projects. He said there is no better time than now for a wealth management service supporting capitalist principles and financial liberty with Bitcoin. He wished the team success as they embarked on this new phase of Strive’s journey.
