The American investment company GoldenTree Asset Management with $45 billion in assets under management has opened a position on bitcoin, TheStreet reports, citing sources. Presumably, the measure is aimed at diversifying the company's existing conservative strategies focused on debt instruments.
One of the sources said that GoldenTree is considering the possibility of attracting experts on cryptocurrency investments. At the same time, it is assumed that the fund's partners themselves already have experience in "trading cryptocurrencies and making venture-style investments in blockchain companies".
The size of the company's investments in bitcoin and its further plans in this direction are not specified.
The PwC auditor, meanwhile, notes that the valuations of cryptocurrency startups are growing as more and more major players begin to show interest in them.
"Let's say you are considering a deal with a valuation of $10 million. Then venture investors come and make an offer at a higher valuation. This is happening everywhere with companies in the early stages of development. Let's say from $5 million to $20 million. Prices are constantly being inflated, " said Henri Arslanyan, head of the PwC cryptocurrency direction.
The volume of mergers and acquisitions in the cryptocurrency industry in 2020 amounted to about $3 billion. According to Arslanyan's estimates, the same amount has been raised over the past 2-3 months.