Ramaswamy's Ohio governor bid sidelines crypto despite $170M Strive stake: report
In brief
- Ramaswamy's crypto statements have dropped off compared with 2024 and 2025, Cointelegraph reports.
- An August SEC filing showed 5,693,897 Strive shares, worth over $170 million as of Sept. 26.
- Strive reported holding 23,156 BTC, worth about $2 billion, as of Aug. 28.
- Three World Liberty Financial co-founders each gave the maximum $16,615 donation.
- Ramaswamy's campaign didn't respond to Cointelegraph's repeated interview requests.
From Bitcoin keynotes to a quieter campaign
During his 2024 presidential run, Ramaswamy often spoke out against central bank digital currencies, praised Bitcoin and its mining operations, and gave keynote speeches at industry events. After Donald Trump won, he picked Ramaswamy to lead the Department of Government Efficiency (DOGE) with Elon Musk. Ramaswamy left without ever officially joining the administration.
Before announcing his run for governor in February 2025, he posted in support of the Ohio Strategic Cryptocurrency Reserve Act (a state bill that would allow a strategic Bitcoin reserve). He spoke at the Bitcoin for America conference in March and at Bitcoin 2025 in May, and his campaign website accepted donations in crypto.
By September 2026, weeks before the election, his public statements on digital assets appeared to have dropped off compared with 2024 and 2025, Cointelegraph reported. As of publication he hadn't addressed a Sept. 17 notice from Ohio Secretary of State Frank LaRose saying the state would accept cryptocurrency for state fees and services.
The campaign didn't respond to Cointelegraph's repeated interview requests.
The Strive stake
Strive, which Ramaswamy co-founded in 2022, announced plans in September 2025 for a Bitcoin Bond ETF focused on bonds issued by companies buying BTC. It reported holding 23,156 BTC worth about $2 billion as of Aug. 28.
Ramaswamy kept his stake. An August SEC filing, as reported by Cointelegraph, showed he owned 5,693,897 Strive shares, worth more than $170 million as of Sept. 26. He also reported personally holding more than $1,000 in BTC and ETH through a Coinbase wallet as of April.
Donors and the Ohio backdrop
World Liberty Financial co-founders Chase Herro, Zak Folkman and Zachary Witkoff each gave the maximum $16,615, according to Cointelegraph. Donors to his Super PAC, "V-PAC: Victors, Not Victims," included Susquehanna co-founder Jeff Yass ($20 million), NYDIG founder Ross Stevens ($6 million), Elon Musk ($5 million) and the Bitcoin Voter Project ($5,000).
So why the quieter tone? Cointelegraph offered one possible explanation:
Ohio voters could be part of the reason for Ramaswamy appearing to tone down the talk on crypto.
It's speculation, not something the campaign has confirmed. Ohio isn't new territory for crypto money, though. In 2024, industry-aligned groups spent more than $40 million in the state to support Bernie Moreno's Senate run, and Moreno went on to defeat incumbent Democrat Sherrod Brown.
Frequently asked questions
How much is Vivek Ramaswamy's stake in Strive worth?
An August SEC filing, as reported by Cointelegraph, showed Ramaswamy owned 5,693,897 Strive shares. They were worth more than $170 million as of Sept. 26. Strive itself reported holding 23,156 BTC, worth about $2 billion, as of Aug. 28.
Who has donated to Ramaswamy's campaign for Ohio governor?
Cointelegraph reported that World Liberty Financial co-founders Chase Herro, Zak Folkman and Zachary Witkoff each gave the maximum $16,615. His Super PAC, V-PAC, drew $20 million from Jeff Yass, $6 million from Ross Stevens, $5 million from Elon Musk and $5,000 from the Bitcoin Voter Project.
