Israeli investment company invested $ 100 million in GBTC

Israeli investment firm Altshuler Shaham invested $ 100 million in the Grayscale Bitcoin Trust (GBTC) in the second half of 2020. It is reported by the local edition of Globes .

In a commentary to the publication, Altshuler Shaham co-founder Gilad Altshuler said that the company invested in the Grayscale Investments trust at a bitcoin price of $ 21,000. In early February, when the cryptocurrency rose to $ 40,000 and continued to grow, the firm sold a third of its assets in GBTC.

Altshuler noted that the decision on further investments depends on the price:

“We were amazed at the speed with which bitcoin grew when its capitalization exceeded $ 1 trillion. It worried us a little. “

Altshuler Shaham currently owns $ 150 million in GBTC.

Altshuler Shaham is one of the largest investment companies in Israel. At the end of January 2021, it had assets under management of more than NIS 171 billion (about $ 51 billion at the time of writing), held in the form of long-term savings in pension and savings funds.

Recall that the inflow of investments in cryptocurrency funds Grayscale Investments in the fourth quarter of 2020 amounted to a record $ 3.26 billion .

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