Preheat oven to 350 F. Grease a 4-quart tube or bundt pan well with butter or vegetable shortening and dust with flour. Set aside.
Sift flour and salt in a medium bowl; set aside. Using an electric mixer with paddle attachment, beat butter and cream cheese on medium speed for 2-3 minutes or until smooth.
Gradually adding sugar, beat on medium speed until light and fluffy (approximately 5 minutes). Then, add eggs, one at a time, beating after each addition just until the yolk disappears. Do not overbeat! Mix in 2 tsp vanilla.
With mixer on low, add flour and salt in two additions, beating until just combined. Fold in chopped strawberries using a spatula and pour half of the batter into prepared pan.
Top batter with 8 spoonfuls of strawberry glaze and make swirls using a toothpick. Pour the other half over top of this. Tap pan on a work surface in order to eliminate large air bubbles.
Bake on the middle rack until golden and a toothpick inserted close to the center comes out almost clean, 60 to 70 minutes. If the top of the cake begins to brown too quickly, cover loosely with aluminum foil.
Let cake cool for 10-15 minutes in the pan on a rack. Meanwhile, prepare the glaze. In a medium bowl, combine powdered sugar, heavy cream, and 1/2 tsp vanilla, whisking until smooth.
Turn out the cake onto a large plate and place top side up. Once it is slightly warm (not hot), drizzle glaze over the cake and let set. Decorate as desired. I used strawberries and sprinkles for decoration,