Bitcoin is one of the news investments that can change not only some portfolios, but also the whole financial world. When Bitcoin critics are spending their time trying to destroy the cryptocurrency, other important investors are starting to place their money in the industry.
Wellington Management Co., a Boston independent investment management firm has joined the crypto party.
Bitcoin Institutional Investments
Wellington Management Co., manages over $1 trillion dollars and is looking for new possibilities of including cryptocurrencies to its investment portfolio. This happens after the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE) decided to launch bitcoin futures contracts.
According to Bloomberg, a group of experts from the company, including equity research analyst Matthew Lipton and trading technologies principal Lee Saba, were in charge of disclosing the company’s plans. In this way towards innovation, the investment firm upgraded its systems so as to make bitcoin derivatives trading a seamless process.
The company has also decided to invest in other crypto-related businesses, including chipmakers for mining activities. Apparently, the two companies are AMD and NVIDIA, previously mentioned at UseTheBitcoin. Both companies are having good years due to the increase in the demand of mining hardware devices.
The report presented reads as follows:
“Various Wellington teams are already positioning portfolios to take advantage of mining and blockchain implementations by, for example, investing in select chipmakers making components.”
Of course, the company knows that the market is a very volatile one. If cryptocurrency prices fall down, mining hardware becomes an expensive investment (if the prices do not follow). Additionally, the company is diversifying its portfolio and not basing is activities solely in the cryptocurrency market.
About that, the company explained that they are entering the market in a very cautious manner. They will not start to invest as soon as today, but the plans are already being analysed. Analyst are studying the market and how is the best way to keep forward.
Bitcoin is being traded around $11.500 and it is yet far from reaching its last all time high in December 2017.
Image Cream Technology and Wikipedia