Crypto News

Billion Asset Manager, GoldenTree, Is Investing in Bitcoin


$45 Billion Asset Manager, GoldenTree, Is Investing in Bitcoin

GoldenTree Asset Management, a $45 billion asset manager run by founder and chief investment officer Steven Tananbaum, is the latest financial institution to get into crypto by purchasing an undisclosed amount of Bitcoin.

While it is not yet known just how much GoldenTree is actively buying Bitcoin, the fund has reportedly restricted its crypto exposure to only Bitcoin at this level.

Back in April, the asset manager had updated its SEC filing to allow the acquisition and buying and selling of a broad range of cryptos and blockchain-based companies.

Citing sources with knowledge of the matter, TheStreet reported that adding Bitcoin to its balance sheet will work as a diversifier for its broad mixture of debt-focused strategies.

Lately, they have also been having conversations about adding to its headcount with experience on the funding and operational sides of crypto investing, one of the sources said.

CIO Tananbaum and his companions at the firm Joseph Naggar Deeb Salem have already made VC-style investments in blockchain firms. In early July, they backed the funding for Borderless Capital, which focuses on the Algorand ecosystem.



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