Israeli Investment firm increases its Bitcoin investment 100% in two months.

Last year, this Israeli Firm invested $100M in Grayscale Bitcoin Trust and a third of which were sold, and yet it possesses $150M from the first purchase.

Share

Altshuler Shaham Investment House which is an Israeli firm has increased its Bitcoin saving twofold. They had bought $100M worth of Grayscale Bitcoin Trust and they are the first Israeli firm ever to invest a large sum of money in Bitcoin.

Altshuler Shaham Company had bought Grayscale Bitcoin Trust shares (GBTC) in 2020 when BTC was trading at about $21K. In this regard, Gilad Altshuler who is the Co-Founder, Co-CEO of this company stated that:

"The $100 million investment has become $200 million, and of the $200 million we have already sold about a third." And “This is a new investment for us. It took a few months until we got all the relevant approvals and all the opinions that approved our investment in the field."

Altshuler seems to be willing to add more BTC to their account despite the fact that they already have $150M worth of GBTC. Altshuler also says:

"It depends on the price. We were a little intimidated by the speed with which Bitcoin reached these prices, with its global market capitalization crossing the $1 trillion mark, and that worried us a bit."

Being the biggest Israeli investment house, Altshuler Shaham holds roughly $51.5 billion for retirement and pension funds since late January and this was not their first time that this firm has engaged with the crypto space. In fact, they took positions in local ICOs in 2017 as well.

Categories

Cryptocurrency(5)

Latest News

NFT and NFC tech to combine in digital postage stamps

The Austrian post intends to integrate near-field communication to its non-fungible token postage stamps. ...

MAY 27, 2021

SDK is Polygon’s new tool to deploy Ethereum-compatible standalone chains

To empower themselves to build Ethereum-compatible standalone chains and layer-two protocols, the Polygon team is going to launch SDK or software development ki ...

MAY 26, 2021

Whales accumulate 122.5K BTC while crypto market is a bloodbath

Last week, the market experienced a collapse and the whole market suffered except for some big holders who bought the dip and added 122.5K BTC to their portfoli ...

MAY 23, 2021

Bitcoin mining yields in Iran may exceed $1B annually

Bitcoin has turned into a way of bypassing the oil sanction by the Iranian government and a payment method for their imports. ...

MAY 21, 2021

Tags

Bitcoin

Tags

Bitcoin