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$45 Billion Asset Manager GoldenTree Has Bitcoin on Its Balance Sheet

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Fri, 30/07/2021 - 17:06
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$45 Billion Asset Manager GoldenTree Has Bitcoin on Its Balance Sheet
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Investment firm GoldenTree Asset Management, which was founded by vulture investor Steve Tananbaum back in 2000, has been buying Bitcoin for years, according to a July 30 report by The Street that cites anonymous sources with knowledge of the matter.

The asset manager—which controls $45 billion worth of assets—treats the flagship cryptocurrency as a portfolio diversifier.

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Tananbaum is the latest addition to the growing list of Wall Street legends of the likes of Paul Tudor Jones, Stanley Druckenmiller, and Bill Miller that have ventured into Bitcoin.

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As reported by U.Today, Point72 Asset Management owner Steve Cohen also recently mentioned that he was “fully converted” to crypto.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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