According to reports, the multi-billion dollar hedge fund Goldentree added Bitcoin to its balance sheet – Finance Bitcoin News

According to reports, Goldentree, a hedge fund with US$41 billion in assets under management, has added Bitcoin, the leading crypto asset, to its balance sheet. An unnamed source detailed that the US asset management company uses Bitcoin to diversify its traditional debt investment strategy. It is said that this wealth management company has been looking for employees who understand blockchain technology, and Goldentree may be a troubled enterprise in the crypto industry.

Goldentree Asset Management invests in Bitcoin: report

recent Report Large hedge funds said it originated from the financial publication The Street Golden tree bought Bitcoin (BTC)The author of the report, Michael Bodly, did not disclose the unknown source of Goldentree’s investment in Bitcoin. A source revealed that Goldentree executives are considering hiring employees who understand encryption solutions and blockchain technology.

Despite seeking help, undisclosed sources told reporters that the fund is proficient in things such as “trading cryptocurrencies and making venture capital-style investments in blockchain companies.”It is also said that the three senior executives of Golden Tree have invested in venture capital groups Capital Without BordersThe report did not disclose how much Goldentree purchased, but it is said that the hedge fund is looking for investment vehicles other than debt-based instruments.

“According to two people familiar with the matter, the New York-based company has been adding Bitcoin to its balance sheet as a diversified investment in a broad debt-focused strategy it has implemented over the years,” Wall Street reporter Bo Deli wrote. “Sources are allowed to discuss sensitive business transactions anonymously,” the author’s report added.

Goldentree may affect troubled tech companies

An unidentified source means that as far as the alleged Bitcoin As far as the company’s balance sheet is concerned, Goldentree will not be counted Bitcoin Treasury Bond List.As of July 31, 2021, 59 public and private companies hold Bitcoin (BTC) On their balance sheet. Goldentree was founded 21 years ago by Steven Tananbaum, a well-known American hedge fund manager.Bloomberg Referrals In 2018, it was named “one of the largest distressed debt investors on Wall Street”. Bitcoin (BTC) As an investment tool, the traditional debt-based strategy normally used by Goldentree is completely the opposite.

Goldentree’s investment strategy enables it to obtain USD 41 billion in asset management from non-performing loans and leveraged loans, as well as emerging debt markets. Tananbaum and Goldentree are also likely to hover in the crypto and blockchain industries for troubled startups. In 2015, CNBC nickname Tananbaum is a “vulture investor” hovering among debt-laden technology companies. Since Wall Street reported that Goldentree was involved in the purchase of Bitcoin, the hedge fund has neither confirmed nor denied these allegations.

What do you think of the report about Goldentree’s accumulation of Bitcoin in its treasury? Please tell us your thoughts on this topic in the comments section below.

Tags in this story

US$41 billion, Balance sheet, Bitcoin, Bitcoin (BTC), Bitcoin investment, Blockchain, Capital Without Borders, encryption, Bad debt, Troubled technology company, Golden tree, Golden Tree Asset Management, Golden Tree Executives, Hedge Fund, Steven Tannenbaum, Treasury, Vulture investor, Wealth management

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