Hedge fund plans $ 500 million investment Bitcoin mega-coup
The $ 200 billion Guggenheim Partners fund plans to invest a significant amount of money in Bitcoin (BTC). Bitcoin has arrived on Wall Street.
It’s the year of big bitcoin news. After Microstrategy, Stan Druckermiller and Paul Tudor Jones, Guggenheim Partners is the next big thing on Wall Street to jump into the crypto market. According to an SEC document filed by the $ 200 billion fund last Friday, November 27, Guggenheim plans to invest a significant amount of money in BTC. The capital for this comes from Guggenheim’s Macro Opportunities Fund, a fund that, according to the website, “sets great macroeconomic ideas”. It is capitalized at $ 5 billion.
As can be seen from the letter to the SEC, Guggenheim reserves the right to invest up to ten percent, or 500 million US dollars, in Bitcoin. This would make it one of the largest investments in cryptocurrency at all. The letter to the SEC states.
As can be seen from the document, Guggenheim does not invest in BTC directly, but through the Grayscale Bitcoin Trust (GBTC). With a BTC fund volume of around 10 billion US dollars, it is currently the largest Bitcoin trust ever. GBTC currently holds around 2.4 percent of the total amount of Bitcoin in circulation.
Recommended News
-
This Blockchain Indicator Might Show Bitcoin Rally Has Legs
Bitcoin’s price has nearly doubled this year, but the rally could have room to run. That’s based on a new report by Coin Metrics, a cryptocurrency data firm, which shows bitcoin (BTC) is not at an extreme relative to the previous market top in 2018. The MVRV ratio is a measure of bitcoin’s market value relative to its realized value. The gauge represents the difference between the cryptocurrency’s current price and the average price at which bitcoins were acquired. When it reaches an extreme, the thinking goes, traders might be inclined to take…
-
The new crown epidemic has given rise to a new consumer model Can it continue to drive Amazon’s performance growth?
The domestic epidemic is basically coming to an end, but the foreign epidemic is escalating. Things have been bought up inside supermarkets, which is especially applicable to the mask products of the moment. On the one hand, very few big-selling masks are sold by the day in tens of thousands, and on the other hand, a large number of accounts are blocked because of selling high-priced masks. The development of the epidemic touches everyone’s nerves and concerns the future of every cross-border person. In order to reduce the impact of…
-
HyBriid 2.0: the Key Force in the Fintoch Ecosystem
From Crypto bridges drains to centralized exchange hacks, the field of Crypto is a “dark forest”. To set a foot in this game not only requires people to be extremely cautious, but also unfortunately, still asks the users to trust the platform that they are interacting with. In 2020 DeFi summer, we’ve witnessed how the decentralized finance platform boomed. The total value locked into the protocols soared from $700M to $15B since the start of year. Yet compared to the volume of traditional financial institutions, DeFi is still…
-
The most anticipated chain game at the end of 2021–islandswap
If 2020 is the first year of DeFi’s explosion, then 2021 is undoubtedly the first year of GameFi’s explosion. Axie has become a phenomenon product whose monthly income has surpassed that of Honor of Kings, depicting a broad prospect of chain games for the public. The fitting concept “metaverse”, as well as the upgrading of policy and supervision, have pushed the chain games to a new climax. The shift from the traditional “Free to Play” to “Play to Earn” (P2E) mode has allowed many chain players to take advantage of GameFi. If you…
-
CoinW Labs Empowers the Growth of Outstanding Web3 Projects at the 2nd Tokyo Summer Hackathon
In collaboration with Cryptogram Venture (CGV), Keio University, MetaFocus, and TEAMZ, CoinW Labs concluded the first roadshow of the highly anticipated 2nd Tokyo Web3 Spring Hackathon (TWSH) on May 17th. CoinW Labs joined forces with prominent Web3 experts from around the globe to unearth promising projects and foster the accelerated growth of high-quality Web3 ventures. The second edition of TWSH was strategically positioned as “Based in Japan, looking at the world,” aiming to identify, support, and nurture exceptional individuals and teams in the Web3 domain on an international…
-
Steve Jobs’ Daughter Claims He Told Her She ‘Smelled Like A Toilet’ While On His Death Bed — But She Clarifies He Was Being Honest: ‘I Really Did’
In “Small Fry,” a memoir by Lisa Brennan-Jobs, the estranged daughter of Steve Jobs, readers are offered a profound insight into her complicated relationship with the iconic Apple co-founder. Known for his unfiltered approach to communication, Jobs never hesitated to express his opinions, no matter how sharp or direct. Published excerpts in Vanity Fair in 2018 drew considerable attention, revealing the depth of their strained interactions and emotional distance. Lisa made it a point to visit her father every other month during the last year of his life as he battled pancreatic…
-
A new type of online job opportunity has spread through the whole Kenya under the COVID-19 lockdown. Join to increase your revenue streams!
Life has been being consistently limited from the global Covid-19 lockdown, while social isolation has also brought thrives on the short-form social video platforms, such as TikTok and Instagram. And in this situation, influencer marketing incorporating social media is a new phenomenon within the industry. For example, some non-celebrity social media influencers can pull in millions of dollars each year from brand partnerships and sponsorships. No wonder that, it illustrates perfectly how big a fan community of a Social Media Influencer and how successful Social Media Influencer can nowadays become….
-
Crypto Investor MetaKovan Announced as Buyer of $69.3M Beeple NFT
MetaKovan, the pseudonymous founder of non-fungible token (NFT) fund Metapurse, is the proud owner of the Beeple NFT auctioned by Christie’s on Thursday for $69.3 million. “When you think of high-valued NFTs, this one is going to be pretty hard to beat,” MetaKovan said in a press release issued by the 255-year-old auction house. MetaKovan paid for Beeple’s “Everydays” in ether (ETH, -2.04%), Christie’s confirmed, beating out Tron founder Justin Sun in a last-minute bid. The final sale price was 42,329.453 ETH. Appearing on CoinDesk TV earlier Friday, Beeple (aka Mike Winkelmann) said, “I probably will keep a percentage…
-
Aptos comes out of nowhere, a new story for public chains in 2022?
Looking at this bullish round of public chain rotation outbreak, the public chain landscape is not yet a foregone conclusion, despite ETH’s first-mover advantage. For example, Solana, which is light on technology and heavy on ecology, uses measures such as introducing liquidity mining, providing subsidies for developers, holding hackathon and providing donation funds to incentivize users to experience their platform, while Polygon, Fantom, Harmony, Avalanche, Celo and NEAR, on the other hand, have taken a different approach and launched incentive programs one after another thus promoting their ecological prosperity. Whether…
-
Galactic Convention valueGalaxy – light illuminates the world
The success of individuals and enterprises is always inseparable from theword “value”, and the most intuitive embodiment of “value”is the increase in the value of finance and money. And thedevelopment of real history, the emergence of blockchain technologyis quietly changing the nature of global economic development. Thepopularity, application and circulation of digital currency have madethe initial investors get a hundredfold return on their investment.Block chain technology is pushing inclusive finance to a new level. At this time, the birth of the Galactic Convention in addition tolending, remittance, settlement, sales of…