Strive Asset Management Integrates Bitcoin into Wealth Management Services Amid Expansion to Dallas

Strive Asset Management Integrates Bitcoin into Wealth Management Services Amid Expansion to Dallas

Strive Asset Management a financial services firm with assets totaling 1.7 billion dollars announced on November 1 that it will incorporate Bitcoin into its wealth management services. This strategic move comes as part of the firm's broader expansion plan which includes relocating its headquarters from Columbus Ohio to Dallas Texas. The relocation will allow Strive to enhance its team by adding new wealth management staff aimed at better serving family offices and high-net-worth individuals.

Currently offering traditional stock and bond funds Strive’s decision to integrate Bitcoin is designed to attract affluent clients in Texas a region noted for its conservative demographics and burgeoning interest in digital assets. This trend highlights a growing inclination among financial firms to provide a wider range of investment options tailored to client preferences.

Strive’s new wealth management division spearheaded by Gary Dorfman and Randol Curtis will make Bitcoin a central feature of its standard investment portfolios. This initiative aligns with Bitcoin’s recent surge in value and its increasing acceptance among conservative circles particularly within Texas which has emerged as a significant center for cryptocurrency advocacy. Moreover the opening of a new stock exchange in Dallas that rejects environmental social and governance ESG policies resonates with Strive’s leadership who advocate for a pro-capitalist approach.

Founded in 2022 by biotech entrepreneur and former presidential candidate Vivek Ramaswamy Strive has positioned itself as a counter to what it perceives as “woke” corporate practices. Its inaugural product an energy ETF named DRLL focuses on investments in U.S. fossil fuel companies prioritizing shareholder value over social considerations. Ramaswamy remains a major advisor and the majority shareholder of the firm supported by notable conservative investors such as JD Vance’s Narya Capital along with venture capitalists Peter Thiel and Bill Ackman.

“Just two short years later the national environment has changed dramatically in no small part due to Strive’s efforts” Ramaswamy remarked. “The moment is now ripe to launch a pro-capitalism Wealth Management business focused on true financial freedom with a commitment to integrating Bitcoin into standard portfolios. I wish the team great success in the next stage of Strive’s incredible journey.”

The broader context includes a growing number of firms recognizing Bitcoin as a viable reserve asset amid ongoing macroeconomic uncertainties including rising inflation and geopolitical tensions. In recent weeks the digital asset prime services platform Abra has launched a service for corporations interested in holding cryptocurrencies as reserve assets on their balance sheets. Similarly the Japanese investment firm Metaplanet has been increasing its Bitcoin acquisitions since May seeking to use Bitcoin as a strategic treasury reserve due to Japan’s economic struggles characterized by high government debt negative interest rates and a weakening yen.

Metaplanet’s latest initiatives involve exercising stock acquisition rights to generate approximately 299.7 million yen to finance further Bitcoin purchases. The firm has also partnered with SBI VC Trade the crypto subsidiary of SBI Group to enhance tax efficiency and explore financing options using Bitcoin as collateral. Earlier this month Metaplanet successfully raised around 10 billion yen approximately 66 million dollars through a stock acquisition rights offering attracting nearly 14 thousand individual shareholders.