This website uses cookies to ensure you get the best experience on our website

Blog

Date:
26th Feb 2021
Author:
Dalmas Ngetich, for CryptoAltum News Team

Stone Ridge to Diversify by Buying Bitcoin, SEC Filing Shows

Stone Ridge, the New York-based asset manager, will from April begin buying Bitcoin, filing at the United States Securities and Exchange Commission (SEC) shows. Bitcoin now becomes their seventh strategy in its diversified alternatives fund. They will focus on options for indirect exposure to Bitcoin. Stone Ridges is looking to diversify away from Bonds and stocks to high-performing assets like alternative lending, single-family real estate, and Bitcoin.


Details: 

Year-to-date, the Bitcoin price has more than quadrupled and is now one of the top performers. By the close of the last decade, the BTC price had added one million percent, outperforming the stock and gold by several folds. Guided by the stellar performance of the previous six months—a few weeks after halving, more open-ended funds may consider Bitcoin, file with the SEC for permission. Already, public companies like Square and MicroStrategy hold a significant amount of BTC, adding the coin as part of their investment strategy.


Impact on the BTC Price: 

Bullish. The BTC/USD price is bearish, retracing from $58k. However, as it slides, high net-worth investors scoop them, supporting bulls above Jan 2021 highs. More investment from funds on top of public funds purchasing more coins could turbocharge the asset to new levels. Analysts project BTC/USD to reach $100k by Dec 2021.


More market news over on our Blog


Risk Disclosure: Trading cryptocurrencies or any other financial instrument involves a significant level of risk and may result in a total loss of your investment. You should consider carefully whether investing in Bitcoin or any other instrument offered by CryptoAltum is appropriate to your financial situation. CryptoAltum only accepts deposits in Cryptocurrencies. By trading with CryptoAltum you acknowledge your understanding of this risk disclosure and your agreement with the Terms and Conditions.
  • Copyright Excel Innovations Ltd (CryptoAltum) 2020