GoldenTree Asset Management would invest in Bitcoin

New York-based asset management company GoldenTree has reportedly added Bitcoin to its balance sheet, although the amount of this suppose...



New York-based asset management company GoldenTree has reportedly added Bitcoin to its balance sheet, although the amount of this supposed investment remains unknown.

According to a report released on Friday by financial media The Street, the company with around $ 45 billion in assets under management has bought Bitcoin (BTC) but apparently turned away from other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported that the purchase of BTC followed discussions among executives about hiring staff familiar with crypto investing.

Executives of the firm, including founder Steven Tananbaum and partners Deeb Salem and Joseph Naggar invested in a fundraising this month for Borderless Capital, which previously helped launch an Algorand accelerator program. Borderless also participated in a fundraising round for the Coinbase-backed digital securities firm Securitization.

Related: The 5 largest regulated digital asset managers in the United States hold more than $ 46 billion in crypto

Other asset management companies have also started to delve into the crypto space, either through direct investments or by offering investment vehicles for Bitcoin and other tokens. Last week, Stone Ridge Asset Management has filed a prospectus with the United States Securities and Exchange Commission to add BTC to its open-end mutual fund. Contrarian Horizon Kinetics’ investment firm on Wednesday advised investors to seek exposure to crypto assets to protect against currency depreciation.

Cointelegraph has contacted GoldenTree, but has not received a response at the time of posting.