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.
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.
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