As a seasoned researcher with a knack for deciphering market trends and political undercurrents, I find this latest move by Strive Asset Management intriguing. Vivek Ramaswamy, a familiar face in both the business and political worlds, has once again made headlines with his bold decision to integrate Bitcoin into their wealth management strategy. This move, if successful, could potentially democratize Bitcoin investment, making it accessible to average Americans.
Under the guidance of Vivek Ramaswamy, a previous Republican presidential contender who now serves as an advisor to Donald Trump, Strive Asset Management – their investment company – has decided to include Bitcoin investments within their wealth management operations.
Based on recent news, financial management firm Strive, with approximately $1.7 billion under its control, aims to incorporate Bitcoin into the investment portfolios of everyday Americans as a key aspect of their business plan. In conjunction with this major step, Strive, established by Vivek, has also disclosed a successful completion of a $30 million series B funding round. This round was supported by Howard Lutnick from Cantor Fitzgerald, who is recognized for his links to the Trump campaign.
The company highlighted several economic factors such as the extent of worldwide debt and rising prices, suggesting it was advisable to add Bitcoin to investment portfolios.
As the U.S election nears, this choice aligns with what some market analysts refer to as the “Trump trade.” If Trump expresses support for cryptocurrencies and aims to make the U.S a leading Bitcoin nation, Bernstein analysts anticipate that Bitcoin’s value could surpass $90,000 if he wins the presidency.
Strive has brought on Gary Dorfman, previously from Sanford C. Bernstein, to take up the role of President for their business operations. Randol Curtis, who was a deputy chief investment officer at One Papital Management, will now function as the Business Chief Investment Officer. The company’s expansion is bolstered by influential financiers aligned with the Republican party, including Narya Capital, founded by JD Vance, a potential vice-presidential candidate for Trump.
This new development occurs as both significant political groups are increasingly immersed in cryptocurrency, with Vice President Kamala Harris lately advocating for a regulatory structure concerning digital assets.
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2024-11-02 12:14