Why Strive’s CEO Wants Investors Short Dollars, Long Bitcoin

Gold's annualized 18.3% gain since 2020 compares with 6.5% for M2, while Bitcoin's 43.1% in that window is more than double gold's pace. Strive CEO Matt Cole argues that gold and Bitcoin can continue to outperform the dollar as expanding money supply and rising debt erode its purchasing power. His October 2026 thesis puts less weight on borrowing costs and more on Strive’s ability to amplify its Bitcoin exposure without taking on risks that could undermine the strategy. Cole Says Scarce Assets Have Outpaced Money Supply Growth In a post on X, Cole compared gold’s annualized growth with that of the US M2 money supply, a measure that includes cash, checking deposits and other liquid money. Gold returned 9.0% annually since 1970, against 6.7% for M2, according to his figures. The gap widened in more recent periods: since the 2008 global financial crisis, gold returned 9.5% against 6.3% for M2, while since the COVID-19 period began in 2020, gold gained 18.3% annually against 6.5% for M2. Bitcoin’s annualized return since 2020 was 43.13% in the same comparison. Cole described the cryptocurrency as “digital gold” and a superior store of value, adding that he expects it to outperform gold...