Strive Asset Management, a financial services firm co-founded by former Republican presidential candidate Vivek Ramaswamy, said Friday that it’s embracing Bitcoin in Texas.

Managing $1.7 billion in assets, the company said in a press release that a core part of its business moving forward will be “integrating Bitcoin into standard portfolios of everyday Americans,” as its headquarters relocates to the Lone Star state from Ohio.

Part of Strive’s new wealth management business, the firm cited “unsustainable global debt levels, rising fixed income yields, long-run inflationary pressures, persistent geopolitical pressures, and potential restrictive monetary controls” as factors making Bitcoin a valid hedge.

Meanwhile, Strive announced that it had completed a $30 million Series B round led by Cantor Fitzgerald. Serving as a campaign surrogate for former President Donald Trump, Ramaswamy had been a vocal crypto supporter before exiting the 2024 race, while Cantor Fitzgerald Chairman and CEO Howard Lutnick has co-chaired Trump’s transition team.

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Author: André Beganski