GoldenTree, a hedge fund with $41 billion in assets under management, has added bitcoin to its balance sheet, The Street reported earlier today.
According to The Street, GoldenTree purchased bitcoin to diversify from the conservative, debt-based strategies it has used in the past. The news outlet did not identify its sources, stating only they were “granted anonymity to discuss sensitive business dealings.”
One of the sources said that executives at GoldenTree have been considering hiring general cryptocurrency investment and operational experts.
However, the source added that the partners at the fund are already experienced in “trading crypto and making VC-style investments in blockchain companies.”
GoldenTree is at this time choosing to purchase bitcoin only, The Street reported.
Still, how much bitcoin the hedge fund has purchased, how much it plans to purchase in the future and what sort of custody solution they will use remains unknown.
For more information on this developing story, visit TheStreet.com/crypto.
GoldenTree, a hedge fund with $41 billion in belongings beneath administration, has added bitcoin to its stability sheet, The Avenue reported earlier in the present day.
In accordance with The Avenue, GoldenTree bought bitcoin to diversify from the conservative, debt-based methods it has used up to now. The information outlet didn’t determine its sources, stating solely they have been “granted anonymity to debate delicate enterprise dealings.”
One of many sources stated that executives at GoldenTree have been contemplating hiring common cryptocurrency funding and operational specialists.
Nevertheless, the supply added that the companions on the fund are already skilled in “buying and selling crypto and making VC-style investments in blockchain firms.”
GoldenTree is right now selecting to buy bitcoin solely, The Avenue reported.
Nonetheless, how a lot bitcoin the hedge fund has bought, how a lot it plans to buy sooner or later and what kind of custody resolution they may use stays unknown.
For extra data on this creating story, go to TheStreet.com/crypto.