- An increasing number of hedge funds and traditional financial institutions are entering the cryptocurrency market, and GoldenTree is the latest to now hold Bitcoin.
GoldenTree holds Bitcoin in its balance sheet
New York-based asset management firm GoldenTree has become the latest traditional financial institution to add Bitcoin to its balance sheet. The $45 billion asset management firm has been adding an undisclosed amount of bitcoins to its balance sheet as a diversifier for the broad mix of debt-focused strategies it is currently operating.
The Street cited two unnamed sources, who revealed that the asset management firm has been buying bitcoins. However, it is unclear how many bitcoins the credit-focused firm company currently holds.
More Wall Street firms open up to Bitcoin
The past year has seen a wide range of Wall Street firms open up to cryptocurrencies in various ways. Some investment banks such as JPMorgan, Morgan Stanley and Goldman Sachs have started granting their clients access to cryptocurrencies.
There are other leading hedge funds that are active in the cryptocurrency space, including Paul Tudor Jones, Alan Howard, Third Point, Millennium and several others. The interest in cryptocurrencies continues to grow despite the recent decline in prices.