During a fundraising round for a Blockchain-based capital firm, Borderless Capital, three executives from $45 billion business GoldenTree participated.
GoldenTree, a New York asset management firm, have also purportedly added Bitcoin to its colossal portfolio. However, the scale of the firm’s investment remains unconfirmed. The asset management investment strategists have opted for Bitcoin (BTC) but appear to have avoided other cryptocurrency options.
Their Bitcoin purchase followed discussions between executives regarding acquiring personnel informed on cryptoasset investments, citing two with experience.
Notable members of GoldenTree including founder Steven Tananbaum and associates Deeb Salem and Joseph Nagger, participated during a capital round for Borderless Capital last month. The group earlier facilitated the establishment of an accelerator program for Algorand. Borderless Capital also participated in a fundraising round for Coinbase-backed digital asset securities startup aptly named, ‘Securitize’.
Other firms in the industry have began venturing into cryptoasset investments through many different channels, predominantly through creating investment vehicles for Bitcoin and other cryptoassets. Stone Ridge Asset management submitted a prospectus with the Securities and Exchange Commission (SEC) to integrate Bitcoin in its open-end investment business. With snowballing interest amongst institutions, Horizon Kinetics a contrarian investment firm has advised investors to increase their portfolio in cryptoassets to protect themselves from currency depreciation, inflation and debasement.