Hedge fund Goldentree, a firm with assets under management (AUM) of $41 billion, has reportedly added leading crypto asset bitcoin to its balance sheet. Anonymous sources detail that the US asset management firm leveraged bitcoin to diversify from traditional debt investment strategies. The wealth management firm is reportedly looking for employees who understand blockchain technology and it is possible that GoldenTree may be circling distressed businesses within the crypto industry.
GoldenTree Asset Management Invests in Bitcoin: Report
recently report good Stems from financial publication The Street, says mega-hedge fund goldentree Is purchased bitcoin (btc). The report’s author, Michael Bodley, did not disclose the undisclosed source, who explained that Goldentry had invested in bitcoin. A source revealed that Goldentree executives are looking for employees who understand crypto solutions and blockchain technology.
Despite seeking help, the unnamed source told the reporter that the fund was fluent with things like “cryptocurrency trading and VC-style investments in blockchain companies.” It also said that three GoldenTree executives have invested in the venture capital conglomerate. borderless capital. The report did not disclose how much Goldantry bought, but did say that the hedge fund was looking for investment vehicles that are different from debt-based instruments.
The New York-based firm is adding bitcoin to its balance sheet as a diversifier for the broad mix of debt-focused strategies it has pursued over the years, writes The Street Journalist Bodyly. . “The sources were given anonymity to discuss sensitive business deals,” the author’s report said.
Goldentree could be the go-to for troubled tech companies
unknown source means, so far as alleged B T c With respect to the Company’s balance sheet, Goldentree will not be included in bitcoin treasury List. As of July 31, 2021, 59 public and private firms have bitcoin (btc) on their balance sheet. GoldenTree was founded 21 years ago by Steven Tannenbaum, a well-known American hedge fund manager. bloomberg Specified Tannenbaum as “one of Wall Street’s biggest investors in distressed debt” in 2018. bitcoin (btc) The stark contrast to traditional debt-based strategies as an investment vehicle is the leverage GoldenTree typically offers.
GoldenTree’s investment strategy has allowed it to capture $41 billion of AUM from things like distressed and leveraged loans and emerging debt markets. There is also the possibility that Tannenbaum and GoldenTree may be circling the crypto and blockchain industry for troubled startups. In 2015, CNBC Surname Tannenbaum was a “vulture investor” circling indebted tech companies. Since The Street reported on GoldenTree’s alleged bitcoin purchase, the hedge fund has neither confirmed nor denied the allegations.
What do you think about the report that says Goldentree is stacking bitcoins in its coffers? Let us know what you think about this topic in the comment section below.
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