Australian investment firm with $ 75 billion in assets begins trading bitcoin futures
Investment manager Pendal Group joins the bitcoin space. Vimal Gore, Head of Bonds, Income and Defensive Strategies, Pendal Group, speaking to Financial Review stated, that cryptocurrencies “enter the mainstream space”, therefore him company decided get busy trade bitcoin futures on the Chicago Mercantile Exchange (CME).
“Everything major players in the world of hedge funds start support Bitcoin, ”Gore said, referring to examples billionaires Paul Tudor Jones and Stanley Druckenmiller, which in this year announced about their investment in the first cryptocurrency.
Mountains noted, that many large financial institutions have not yet had time to start trade bitcoin, but requests clients were forced their go on this step. “We keep positions for gold for our clients long, long the years. Now we do that the same most with bitcoin “, – added Mountains.
He also noted that government bonds are losing their attractiveness in the eyes of wealthy investors due to central bank quantitative easing policies and with time may “Turn into a dead class assets“, then how people will be transfer your savings to alternatives including gold and bitcoin.
According to Gore, the digitalization of the economy amid the coronavirus pandemic will force the global financial system to “evolve”, in which cryptocurrencies have a special place. is he compared bitcoin with a cockroach, the existence of which cannot be prohibited by the authorities.