CryptoWhistle - Crypto Currency Tracker logo CryptoWhistle - Crypto Currency Tracker logo
Seeking Alpha 2021-03-10 20:49:27

Bitcoin retakes $1T market cap with Israel's Altshuler Shaham the latest to invest

Israeli asset manager Altshuler Shaham late last year reportedly invested $100M in Bitcoin (BTC-USD) via a purchase of shares in the Grayscale Bitcoin Trust (GBTC). Bitcoin was changing hands at roughly $21K at the time of the buy.Altshuler Shaham sold some of its stake in early February when bitcoin topped $40K, so they're not exactly hodlers yet.Altshuler Shaham is one of the largest investment managers in Israel, with about $50B in assets under management. As far as is known, it's the first such Israeli institutional player to invest in the crypto.Co-CEO Gilad Altshuler says his group was "a little intimidated" by the speed with which bitcoin gained in value.Bitcoin today rose above $57K - it's pulled back to $56.2K at the current time, but remains at a $1T+ market cap.Earlier, New York Life CEO Ted Mathas joined the board at NYDIG.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.