There’s another asset management company coming after the opportunity in Bitcoin.

‍What’s happening:‍

• Asset management company Strive Enterprises has announced plans to begin purchasing Bitcoin as part of their new push into wealth management for individuals
  

Why it matters:‍

• Strive Enterprises was founded by Republican political contender Vivek Ramaswamy with a controversial approach to investing in the public markets which largely consists of avoiding companies focused on ESG and instead allocating capital to fossil fuel producers and other companies who were not focused on reducing carbon emissions or social good initiatives
  
• This is the first time Strive Enterprises has ever publicly stated plans to begin buying Bitcoin, which marks a paradigm shift in their approach to investing
  

By the numbers:‍

• Strive just recently raised a $30M USD Series B financing, which was led by Cantor Fitzgerald who is notably very optimistic about the future of Bitcoin
  
• Currently, Strive has approximately $1.7B USD in assets under management
  

Going deeper:‍

• Vivek Ramaswamy previously had tremendous success in the public markets through leading biotechnology company Roivant Sciences (NASDAQ: ROIV) to multiple successful drug approvals from the United States Food and Drug Administration
  

The intrigue:‍

• Vivek Ramaswamy has also been making other moves in the public markets lately, notably becoming one of the largest shareholders of BuzzFeed (NASDAQ: BZFD) in an outspoken effort to get the media outlet to embrace more conservative political opinions and content creators

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