A Major Investment Firm Is About To Inject Over Half A Billion Dollars Into The Bitcoin Market – What This Means

967
A Major Investment Firm Is About To Inject Over Half A Billion Dollars Into The Bitcoin Market - What This Means
Advertisement
   

Guggenheim Partners is a global investment firm that’s currently hitting the headlines in the crypto society. The firm runs the Macro Opportunities Fund, an investment fund of around $5.3 billion in assets. Apparently, the firm is now planning to invest about 10% of its total funds in Bitcoin. That’s about $530 million.

According to a notice served to the SEC by the firm, Guggenheim Partners will invest the funds through a private investment channel run by Grayscale Bitcoin Trust (GBTC). Grayscale is currently the largest investment fund in the world.

No Risks Mentioned

Judging from these developments in the Bitcoin market, it’s safe to say that a lot of people out there still think Bitcoin is a very safe asset to invest in.

In fact, institutional investors have been expected to bring an influx of new money into the market for a while.

However, according to reports, Guggenheim Partners’ notice to the US SEC didn’t mention anything to do with the possible risks associated with crypto investments. The crypto market has been known to be highly volatile. 

Advertisement
   

What It Means

Guggenheim Partners is the latest institutional funds to express interest in Bitcoin. Of late, institutional investors have been flocking into the crypto market. Grayscale alone has been accumulating cryptos, especially Bitcoin, at a very high rate. At one point, Grayscale was buying more Bitcoins than they were being mined in a week.

From a market perspective, the growing interest in Bitcoin by parties that weren’t previously pro-Bitcoin shows that the crypto is finally going mainstream, and major players in the financial markets no longer belittle its global influence. For one, Bitcoin has been on a gaining path for the last few weeks. In fact, a quick look at the BTC trends shows that it has grown by over 140% since the start of the year.


Get Daily Crypto News On Facebook | Twitter | Telegram | Instagram


DISCLAIMER Read More

The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.