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According to reports, GoldenTree Asset Management is investing in Bitcoin.

By Max S - Cryptocurrency Speculator - 30-07-2021


More than 3 executives from the $45 billion business took part in a fundraising round for a blockchain-focused working capital firm Borderless Capital.

GoldenTree, a brand New York-based asset management firm, has purportedly added Bitcoin to its record; however, the scale of this alleged investment is unknown.

As per a Friday report from economic news outlet the road, the firm, which manages over $45 billion in assets, decided to buy Bitcoin (BTC) but appears to have avoided other cryptocurrency purchases.

The journal stated that the BTC purchase followed discussions between officials about adding personnel aware of investing in cryptocurrency, citing two persons with knowledge.

Executives from the business, notably founder Steven Tananbaum and associates Deeb Salem and Joseph Naggar, participated during a capital round for Borderless Capital last month, which earlier supported establishing an accelerator program from Algorand. Borderless also took part during a capital round for Securitize, a Coinbase-backed digital asset securities start-up.

Other asset management businesses have entered the crypto industry, either directly or by creating investment vehicles for Bitcoin and other currencies. Last week, Stone Ridge Asset Management submitted a prospectus with the Securities and Exchange Commission to incorporate BTC in its open-end investment firm. Horizon Kinetics, a contrarian investing firm, recommended investors on Wednesday amass coverage to crypto assets to safeguard themselves from currency depreciation.

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