Bitcoin at ATH! Two multi-billion Wall Street asset managers publicly advise BTC

3 min readDec 2, 2020

Bitcoin price at all-time high!

There’s of course only one way to start this Crypto2Cash Chronicle: the Bitcoin (BTC) price rose to an all-time high! Monday the price reached the high of $19.666.

Since Bitcoin is a global asset that can be traded at thousands of exchanges, there’s not such a thing as ‘THE price’. At BitMEX the price had been more expensive than $20.000 for example, back in 2017. But in general we could say: Bitcoin reached an ATH!

Multi-billion asset manager allocates capital for Bitcoin (BTC)

Guggenheim Partners, a $200 billion-plus asset manager, could be the latest Wall Street firm to allocate capital to the cryptocurrency market.

The firm, which invests across asset classes on behalf of companies, pension funds, and sovereign wealth funds, wrote in a filing on November 27 that it might “seek investment exposure to bitcoin indirectly” via Grayscale’s Bitcoin Trust product (GBTC) through its Macro Opportunities Fund.

“The Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (‘GBTC’), a privately offered investment vehicle that invests in bitcoin.”

Guggenheim would be the latest to signal its interest in bitcoin as a macro play. Earlier this year, investment legend Paul Tudor Jones penned a note outlining how bitcoin could serve as an inflationary hedge against aggressive central bank policy.

Source: The Block

Investment Giant AllianceBernstein advises Bitcoin in Investors’ Portfolios

It’s not only Guggenheim Partners that publicly shares its positive insight in Bitcoin as and asset class. The research arm of New York-based AllianceBernstein has also advises bitcoin as an investment asset.

It’s a global investment manager with $631 billion in assets under management. In a research note produced for clients, Inigo Fraser Jenkins said the firm had previously ruled out Bitcoin as an investment asset back in January of 2018, soon after bitcoin had hit its all-time high close to $20,000.

“Cryptos do have a place in asset allocation … for as long as they are legal!”

Ultimately, Bernstein Research recommends that bitcoin can comprise from 1.5% to 10% of portfolios, depending on the cryptocurrency’s monthly returns.

Source: Coindesk

Ukrainian Government sponsors Educational Web Show about Cryptocurrencies

The Ukrainian Ministry of Digital Transformation released a web series to educate citizens about cryptocurrencies, blockchain and Bitcoin.

The show premiered last Wednesday and was developed in collaboration with Binance, Hacken and Crystal Blockchain as part of the Ukrainian government’s “Diia.Digital Education” program.

The show consists of eight episodes of six to 12 minutes each that explain the basic concepts of cryptocurrency and blockchain. The show is hosted by Andriy Onistrat, an entrepreneur and former banker, who interviews guests working in the blockchain industry.

Source: Cointelegraph

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