Bitcoin is a massively disruptive factor in financial world and investments. While its opponents spend their precious time trying to minimize its impact, other major players in the industry have started to allocate their funds in the crypto industry.
Recently, a Boston independent management firm, Wellington Management Co. joined the crypto party.
Wellington Management Co. manages over $1 trillion dollars and is currently exploring the possibilities of including cryptocurrencies to its investment portfolio. This follows the launching of Bitcoin futures contracts from the Chicago Mercantile Exchange (CME) and the Chicago Board Options Exchange (CBOE).
The Bloomberg reports that a team of company’s experts, including equity research analyst Matthew Lipton and trading technologies principal Lee Saba, were in charge of disclosing the company’s plans. Walking towards innovation, Wellington Management Co. upgraded its systems to make Bitcoin derivatives trading a flawless and easy process.
Wellington Management co. has also planned to invest in other crypto-related entities, including chipmakers for mining activities. Obviously, the two firms AMD and NVIDIA are previously mentioned at UseTheBitcoin. Both firms are in their years of prosperity due to the rise in the mining hardware devices’ demand.
The report presented reads as follows:
“Various Wellington teams are already positioning portfolios to take advantage of mining and Blockchain implementations by, for example, investing in select chipmakers making components.”
However, the company is aware of the excessively volatility of the market. If the prices of cryptocurrencies went downwards, mining hardware would become a costly investment (if the price did not follow). Moreover, the company is diversifying its investment portfolio, basing on non-crypto-related activities as well.
So, the company explained that they are entering the market cautiously. They do not intend to invest immediately, but the plans are already being analyzed. Company’s analysts are studying the market and how is the best way to proceed.
Bitcoin is being trading at around $11,500, being far from reaching its last all-time high in December 2017.