{"id":355642,"date":"2021-10-20T23:31:20","date_gmt":"2021-10-20T20:31:20","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/breaking-2-2t-asset-manager-pimco-plans-to-buy-more-crypto\/"},"modified":"2021-10-20T23:31:20","modified_gmt":"2021-10-20T20:31:20","slug":"breaking-2-2t-asset-manager-pimco-plans-to-buy-more-crypto","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/breaking-2-2t-asset-manager-pimco-plans-to-buy-more-crypto\/","title":{"rendered":"# BREAKING: $2.2T asset manager PIMCO plans to buy more crypto"},"content":{"rendered":"

“# BREAKING: $2.2T asset manager PIMCO plans to buy more crypto <\/strong>”
\n<\/p>\n

Fixed-income manager PIMCO is planning to increase its exposure to digital currencies such as Bitcoin (BTC) after dabbling in the asset class through crypto-linked securities, offering the latest evidence that major institutions are starting to embrace the emerging asset class.\u00a0<\/p>\n

In an interview with CNBC on Wednesday, chief investment officer Daniel Ivascyn confirmed that PIMCO already has exposure to \u201ccrypto-linked securities\u201d through various hedge fund portfolios. He said the firm plans to gradually increase its exposure to the asset class as part of its \u201ctrend-following strategies or quant-oriented strategies.\u201d He further explained<\/a>:<\/p>\n

\u201cThis will be a gradual process where we spent a lot of time on the internal diligence side speaking to investors. And we\u2019ll take baby steps in an area that\u2019s rapidly growing.\u201d<\/p><\/blockquote>\n

Founded in 1971, PIMCO is one of the world\u2019s largest asset managers focused on active fixed-income securities. The firm\u2019s assets under management totaled $2.2 trillion as of Dec. 31, 2020. <\/p>\n

The news<\/a> dropped on Wednesday as Bitcoin shattered all-time highs above $67,000 and Ether (ETH) eclipsed $4,100 for the first time since May. In the process, the total cryptocurrency market capitalization reached a new record high above $2.63 trillion, according to Cointelegraph Markets Pro.<\/p>\n

Related: <\/em><\/strong>Bitcoin briefly flippens Swiss franc after rally to new ATH<\/em><\/strong><\/p>\n

Institutions have been piling into crypto investments for much of 2021, reflecting the growing mainstream acceptance of digital assets. A September survey from European investment manager Nickel Digital Asset Management revealed that nearly two-thirds, or 62%, of global institutional investors with zero exposure to crypto planned to make their first investments within 12 months. Meanwhile, institutional capital was the major driving force behind Asia\u2019s 706% surge in crypto transactions over the past year, according to data from Chainalysis. <\/p>\n