Home CoinNews $2.21 Trillion Investment Manager Pimco Starts Exploring Crypto

$2.21 Trillion Investment Manager Pimco Starts Exploring Crypto

by admin

Crypto News


Global investment management firm Pimco plans to start cryptocurrency trading, according to a report by CNBC.

During CNBC’s Delivering Alpha conference, Daniel Ivascyn, Pimco’s chief investment officer, said that the $2.21 trillion investment management firm was looking to gradually integrate crypto its business:

Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side

Several hedge fund portfolios of the fixed-income giant have already dipped their toes into trading cryptocurrency-backed securities.

Ivascyn claims that decentralized finance is a disruptive force that could threaten Pimco’s business. Hence, one of the leading asset managers has to adapt to the new environment.

In December, Pimco’s market strategist, Tony Crescenzi, said that Bitcoin is not money.




#Trillion #Investment #Manager #Pimco #Starts #Exploring #Crypto

Related Posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.