The Bitcoin Layer This CEO Just Raised $750 Million to Buy Bitcoin With ZERO Debt
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Jul 22, 2025 Matt Cole, CEO of Strive Funds and former manager of a $70 billion portfolio at CalPERS, discusses how his company raised $750 million to become a major Bitcoin player without incurring debt. He emphasizes the dangers of fiat currency and debt monetization, positioning Bitcoin as a resilient alternative. Cole addresses the potential decline of the dollar, Tether's role in the Bitcoin market, and the strategic importance of building a transparent, long-term Bitcoin treasury. His insights reflect a keen understanding of financial systems and emerging market dynamics.
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Strive's Founding and Matt's Bitcoin Journey
- Strive was founded in 2022 with the mission to capitalize on inefficiencies in capital markets, focusing on corporate governance and unapologetic capitalism.
- Matt Cole, with experience managing $70 billion at CalPERS, personally put nearly all his net worth into Bitcoin in early 2017, seeing it as the future answer to fiat currency risks.
Bitcoin as Response to Dollar Monetization
- Matt found direct Fed interactions revealed debt monetization was occurring despite denials, viewing it as a slow-motion default.
- He saw no fiscal solution in sight and concluded Bitcoin was the only viable opt-out from fiat currency devaluation.
Dollar Decline Fuels Bitcoin Potential
- The U.S. dollar has been in secular decline against other fiat currencies for decades, but might still survive for decades more.
- A weakening dollar could boost Bitcoin’s value significantly, even without the dollar fully collapsing.