Key Takeaways
- Strive Asset Management launched a new investing product based on Bitcoin.
- Prominent Trump supporters back the firm.
- The asset manager boasts a strong roster of high-profile investors and advisors.
Strive Asset Management, a $1.7 billion firm with close ties to the Trump administration, is venturing into the crypto industry, reflecting a growing interest among conservative investors in digital assets.
The company, founded by Vivek Ramaswamy, a vocal critic of environmental, social, and governance (ESG) principles, has long positioned itself as an anti-ESG haven for investors.
Now, Strive looks to integrate Bitcoin into its standard portfolios, a decision that aligns with the broader trend of Trump supporters embracing cryptocurrency.
Trump Loyalists Back Strive
Strive has several links to Donald Trump and his campaign.
Strive’s co-founder, Vivek Ramaswamy, holds an advisory position with the company and remains its majority shareholder.
In addition to Ramaswamy, Strive also boasts a high-profile roster of investors and advisors, including JD Vance, Peter Thiel, Bill Ackman, and Howard Lutnick, all prominent supporters of Donald Trump.
Vice Presidential candidate Vance was an early investor in Strive through his Ohio-based venture investment firm, Narya Capital.
Thiel and Ackman participated in Strive’s seed fundraising in 2022, while Cantor Fitzgerald, led by Lutnick, a co-chair of Trump’s transition team, has been a significant investor in the firm and sits on its board.
A Texas-Sized Shift
Strive is relocating its headquarters from Columbus, Ohio, to Dallas, Texas, as part of its crypto push.
The asset management firm looks to focus on serving high-net-worth individuals and family offices in the conservative-leaning state.
The company has also hired new wealth managers to cater to this demographic.
