US asset management company GoldenTree Asset Management has invested some of its capital in bitcoin. This was reported by The Street, citing knowledgeable sources.
According to the publication, its management is also discussing hiring specialists in the field of cryptocurrency investments. The company sees digital gold as an acceptable diversifier for debt-focused portfolios.
GoldenTree has more than $45 billion in credit assets under management and, founded in 2000, specialises in high-yield bonds, leveraged loans and risky structured products.
Bitcoin rose above $42,500 on the Binance exchange on the night of August 1. At the time of writing, the first cryptocurrency is trading near $41,780.
In early July, GoldenTree founder and chief investment officer Stephen Tananbaum, along with partners Deeb Salem and Joseph Naggara, invested in venture capital firm Borderless Capital's fund focused on the Helium ecosystem's HNT token.
Previously, Borderless Capital helped startup Algorand launch the Eterna Borderless Venture Studio programme to fund projects to build applications on its blockchain.
Recall, according to Zeno Staub, head of Swiss private bank Vontobel, some wealthy clients are interested in transferring some assets into cryptocurrencies.
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