Global investment management firm Pimco plans to start cryptocurrency trading, according to a report by CNBC.
During CNBC's Delivering Alpha conference, Daniel Ivascyn, Pimco's chief investment officer, said that the $2.21 trillion investment management firm was looking to gradually integrate crypto its business:
Advertisement
Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side.
Several hedge fund portfolios of the fixed-income giant have already dipped their toes into trading cryptocurrency-backed securities.
XRP, ADA, SHIB, DOGE in Red as Crypto Liquidations Top $556 Million
Samson Mow Insists on Ethereum Rollback After Bybit's $1.4 Billion ETH Hack
Bybit CEO Calls Latest Crypto Hack 'Worst in History,' Announces Next Steps
Bitcoin (BTC) Surges to $100,000: 3 Key Levels Next, Will XRP Follow Bullish Wave? Dogecoin (DOGE) in Very Difficult Position
Alex DovbnyaAdvertisement
In December, Pimco's market strategist, Tony Crescenzi, said that Bitcoin is not money.
Dan Burgin
Vladislav Sopov