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New York-based asset management company GoldenTree has reportedly added Bitcoin to its balance sheet, although the amount of this supposed investment remains unknown.
According to a report released on Friday by financial media The Street, the company with around $ 45 billion in assets under management bought Bitcoin (BTC), but apparently avoided other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported that the purchase of BTC followed discussions among executives about hiring staff familiar with crypto investing.
Company executives, including founder Steven Tananbaum and partners Deeb Salem and Joseph Naggar, this month invested in a funding round for Borderless Capital, which previously helped launch an Algorand acceleration program. Borderless also participated in a funding round for the digital asset securities firm backed by Coinbase Securitize.
Related: 5 Largest Regulated Digital Asset Managers In US Hold Over $ 46 Billion In Crypto
Other asset management companies have also started to delve into the crypto space, either through direct investments or by offering investment vehicles for Bitcoin and other tokens. Stone Ridge Asset Management last week filed a prospectus with the United States Securities and Exchange Commission to add BTC to its open-end mutual fund. Investment firm Contrarian Horizon Kinetics on Wednesday advised investors to seek exposure to crypto assets to hedge against currency depreciation.
Cointelegraph has contacted GoldenTree, but has not received a response at the time of posting.
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