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Pimco, The $2.21 Trillion Investment Manager Kicks Of Exploring Crypto

bitcoinworld.co.in 21 October 2021 06:02, UTC

Global investment management firm Pimco considers starting cryptocurrency trading. More so, this is according to a report by CNBC.

Furthermore, Daniel Ivascyn, Pimco chief investment officer explains During CNBC’s Delivering Alpha conference. Notably, He says that the $2.21 trillion investment management firm is considering integrating crypto into its business.

“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.”
So, Daniel Ivascyn, Pimco chief investment officer explains

Furthermore, Several hedge fund portfolios of the fixed-income giant are already showing interest. More so, putting their funds into trading cryptocurrency-backed securities.

However, Ivascyn states that finance decentralization is a disruptive force that could threaten Pimco’s business. Therefore, it has to adapt to the new environment.

Recall, In December Pimco market strategist, Tony Crescenzi notes that Bitcoin is not money.