Goldentree – A Multi-Billion Dollar Hedge Fund Is Adding Bitcoin to Its Balance Sheet
The primary cryptocurrency bitcoin has been added to its balancing sheet by Goldentree, a hedge fund with management (AUM) assets of $41 billion. The US asset management utilized Bitcoin to diversify from traditional debt investment strategies, according to unidentified sources. Apparently, the wealth management company is looking for individuals that understand blockchain technology. Moreover, struggling companies in the crypto-market circle.
The mega-hedge firm Goldentree purchased bitcoin according to a recent newspaper story by The Street (BTC). The author of the article, Michael Bodly, did not disclose the mysterious person’s name, who explained why he acquired Goldentree in Bitcoin. According to a source, the management of Goldentree considers employing staff versed in crypto solutions and blockchain technologies.
Although the unidentified founder sought support, he told the newspaper that the fund is suited to trading the crypts in Blockchain firms and making VC-style investments. In the venture capital firm Borderless Capital, three Goldentree executives were also allegedly involved.
Besides, Goldentree did not disclose the amount obtained by the report. But the hedge fund was supposed to search for investment vehicles other than debt-based goods.
<blockquote> “The New York-based firm has been adding bitcoin to its balance sheet as a diversifier for the broad mix of debt-focused strategies it has run for years, according to two sources with knowledge of the matter,” <blockquote> The Street journalist Bodly writes.
Goldentree Could Be Looking Out for Distressed Tech Companies
Goldentree is not listed on Bitcoin Treasuries, according to the unidentified source, due to the company’s alleged BTC balances. As of 31 July 2021, 59 public and private undertakings had Bitcoin (BTC) on their balance sheets. Goldentree was founded 21 years ago by Steven Tananbaum, a famous American hedges fund administrator.
The investing methodology of Goldentree enabled them to accumulate $41 billion in AUM from distressed and levied loans and emerging debt markets. The crypt and the blockchain sectors may also be exploring the turbulent companies in Tananbaum and Goldentree. Furthermore, in 2015, Tananbaum was labeled by CNBC as the “crazy investor” because of the debt of its IT companies. The Hedge Fund has failed to confirm or refute accusations since The Street initially revealed Goldentree’s suspicious bitcoin acquisition.
