GoldenTree Asset Management is Rumored to be Investing in Bitcoin

GoldenTree, a New York-based wealth management business, is said to have included Bitcoin in its balance sheet, however the size of the alleged investment is unclear. As per a story published Friday by financial news site The Street, the business, which manages about $45 billion worth assets, has acquired some Bitcoin (BTC) but has reportedly avoided investments in other altcoins.

The magazine said that the BTC buying followed conversations between officials about employing workers knowledgeable about crypto investing, citing two individuals who were privy to the info.

Borderless Capital, which earlier assisted in creating an accelerator program from Algorand, received financing from the firm’s management, including founder Steven Tananbaum and associates Deeb Salem and Joseph Naggar. Borderless also actively participated in a fundraising event conducted by Securitize, a digital asset securities business sponsored by Coinbase.

Many asset management businesses have started to enter the crypto sector either via direct investments or by providing Bitcoin and certain other altcoins as financial products. Stone Ridge Asset Management submitted an application with the United States Securities and Exchange Commission last week to include BTC in an open-end mutual fund.

On Wednesday Horizon Kinetics, a contrarian investing firm, urged investors to gain exposure to digital currencies to safeguard themselves from currency depreciation.