Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
Seeking Alpha 2021-10-20 18:58:14

Pimco investment chief says firm will invest more in cryptocurrencies - CNBC

Allianz's (OTCPK:ALIZF) Pimco, the fixed income behemoth, has dipped a toe into cryptocurrency and plans to gradually invest more in digital assets, a sector that could shake up the financial industry, the firm's chief investment officer, Daniel Ivascyn told CNBC in an interview. "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," he said. He said it will be a gradual process that will require time for internal diligence in speaking with investors. "We'll take baby steps in an area that's rapidly growing," he said. The Pimco exec's comments come as bitcoin climbed to record highs, almost reaching $67K at one point, on the day after the ProShares Bitcoin Strategy ETF was launched. Some of Pimco's hedge fund portfolios are already started trading crypto-linked securities, he told CNBC. "We’re trading from a relative value perspective.

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.