Strive CEO Matt Cole spoke about his company's transformation into a digital asset treasury company and the importance of Bitcoin (BTC) as a guest with Scarlett Fu and Tim Stenovec on the Bloomberg Crypto program.
Cole gave a pessimistic assessment of the U.S. financial structure, saying, “Bitcoin is the only solution to the debt crisis and fiat devaluation.”
With the rise in cryptocurrency prices, many companies around the world have adopted the balance sheet strategy pioneered by Michael Saylor Strategy and started creating treasuries focused on digital assets. Strive also joined the trend.
The company was prominent in asset management before shifting to a Bitcoin-focused strategy. Strive manages several exchange-traded funds focused on large-cap U.S. stocks, including the $1 billion Strive 500 ETF (STRV).
Cole recalled that he spent 15 years managing fixed income portfolios at CalPERS (California Public Retirement System), and said his experience in public bonds was the deciding factor in turning to Bitcoin.
“I was one of the largest buyers of U.S. Treasuries. Working directly with the Treasury and the Federal Reserve convinced me, a Bitcoin skeptic, that Bitcoin was the only solution to the debt crisis and currency devaluation.”
Mr. Kohl argued that the debt crisis is a bipartisan issue and expressed little hope that the United States could solve it.
“I don’t think the US government will stop printing money. This is a headwind for Bitcoin and its investors.”
Cole said Bitcoin is not only an investment tool, but also offers financial freedom and a way out of the current system.
*This is not investment advice.
