Cryptocurrency News

GoldenTree Investment Firm Adds Bitcoin To Its Reserves.

New York-based asset management firm GoldenTree has reportedly added Bitcoin [BTC] to its reserves, though the quantity of this supposed investment still remains undisclosed.

In line with an official report from financial news outlet The Street, the firm with roughly $45 Bln in assets under management has purchased some Bitcoin [BTC] but has seemingly shied far away from other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported the BTC purchase followed discussions between executives regarding hiring staffers known to the crypto investments.

Executives at the firm, along with the founder Steven Tananbaum and partners Deeb Salem and Joseph Naggar invested within funding round this month for Borderless Capital, which earlier assisted in the launch of an accelerator program from Algorand. Borderless also participated in a funding round for the Coinbase-backed digital asset brokerage Securitize.

Other asset management firms have begun to delve into the cryptocurrency ecosystem also, either via direct investments or by offering investment vehicles for Bitcoin and other tokens. Last week, Stone Ridge Asset Management filed a prospectus with the United States SEC [Securities and Exchange Commission] to feature BTC to its open-end mutual fund. Earlier on Wednesday, Contrarian investment company, Horizon Kinetics advised investors to hunt exposure to crypto assets to guard themselves against currency debasement.

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