New York-based asset management firm GoldenTree has reportedly added bitcoin to its balance sheet, although the amount of this alleged investment remains unknown.
According to a Friday report from financial news site The Street, the roughly $45 billion asset management firm has bought some bitcoin ( BTC ) but has apparently avoided other cryptocurrency investments. Citing two sources with knowledge of the matter, the publication reported that the BTC purchase came after discussions among executives about hiring employees familiar with crypto investments.
Executives including founder Steven Tananbaum and partners Deeb Salem and Joseph Naggar invested this month in a funding round for Borderless Capital, which previously helped launch the company's Algorand accelerator program. Borderless also participated in a funding round for securities firm Securitize, backed by Coinbase .
Other asset management firms have also begun to delve into the crypto space, either through direct investments or by offering investment vehicles for Bitcoin and other tokens. Last week, Stone Ridge Asset Management filed a prospectus with the U.S. Securities and Exchange Commission to add BTC to its open-end mutual fund. On Wednesday, investment firm Contrarian Horizon Kinetics advised investors to seek exposure to crypto assets to protect against currency depreciation.
