March 8, 2021

Wall Street's Keith Invests $500 Million in Bitcoin

Wall Street's Keith Invests $500 Million in Bitcoin

Investment company Guggenheim Partners with a budget of $270 billion plansto allocate more than $500 million to buy bitcoins through the Bitcoin Trust (GBTC) Grayscale.

According to the filing, the Macro Opportunities Fund of Guggenheim Partners mayinvest more than $500 million in the flagship digital currency.

The Macro Opportunities Fund currently manages $5.3 billion in assets and plans toallocate 10% of its capital to the first cryptocurrency, recognizing in such a way that bitcoin canbe a safe choice for her customers.

Of all the fund managers, Grayscale is the only one who has overcome the $10 billion mark.

In recent months, Grayscale representatives have noted a significant increase in interest from its institutional clients.After MicrosoftStrategy CEO Michael Sailor announced that BTC was adapting as a "major reserve asset" for his company, a slew of institutional investors announced their renewed interest in bitcoin.Thanks to Jack Dorsey, PayPal and such legendary investors as Paul TudorJones, Stanley Drakenmiller, and Bill Pulte, many have begun to recognize the potential of bitcoin during the era of expansive monetary policy.

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