In recent days, several reports have emerged that institutions are preparing to invest in BTC or other cryptocurrencies, or have done so in the meantime.
The investment giant PIMCO is preparing an investment
First on the list is the company PIMCO, which already has exposure to cryptocurrencies through Grayscale BTC Trust investment products, but its CEO Daniel Ivascyn confirmed in an interview with CNBC that they plan to increase their exposure significantly. “It will be a gradual process, before which we spent a lot of time talking internally with investors. From small children’s steps, we watch the area grow rapidly. ”
PIMPCO was established in 1971 and is one of the world’s largest managers focused on fixed income active securities. As of December 31, 2020, the assets under its management were worth $ 2.2 trillion.
– BTC Magazine (@BitcoinMagazine) October 20, 2021
DCG, parent company of Grayscale
Hundreds of millions more dollars can go into cryptocurrencies throughout the company DCG, which is the parent company of the company Grayscale, which owns over 550,000 BTC and wants to converse its fund on the BTC ETF (they have already applied to the SEC).
DCG has so far been authorized to purchase $ 250 million from its “daughter” Grayscale under its terms, which it used to buy GBTC for $ 193.5 million in May. However, it has now increased the $ 250 million limit to $ 1 billion, which means it can make a much larger investment in GBTC in the coming months.
– Bloqport (@Bloqport) October 20, 2021
Chainalysis also wants to buy BTC
The investment in BTC is also being announced by Chainalysis, which is known as a specialist in onchain BTC analysis, with the fact that it also offers its services to governments in their efforts to detect transactions related to illegal activities. The company, which is estimated at more than $ 4.2 billion, has not yet owned any Bitcoin. However, this will change in the near future, as at the beginning of the week it announced the purchase of BTC through the New York Digital Investment Group (NYDIG), which will provide it with custody.
“We are excited to add BTC to our corporate investment portfolio. This is our first acquisition of cryptocurrencies and we will continue to monitor other digital assets as our potential future investments. ” commented on the new CEO of the company Michael Gronager.