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Thursday

13 May 2021

BNY Mellon fund laments: ‘We should have bought Bitcoin, not gold'

BNY Mellon fund laments: ‘We should have bought Bitcoin, not gold'


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Securities and Exchange Commission indicate the firm laments not purchasing shares in leading business intelligence firm MicroStrategy (MSTR) — which invested billions into Bitcoin last year, holdings that have since grown to more than $4.8 billion.

According to ETF.com, 88 ETFs are currently exposed to MicroStrategy, including the sixth-strongest performing fund of 2021 so far, the Amplify Transformational Data Sharing ETF (BLOK) — which is heavily exposed to crypto firms and is the single-largest holder of MSTR by percentage allocation with 5.20% of its portfolio invested in Microstrategy.

Despite regretting the lack of MSTR exposure of its Opportunistic Small Cap Fund, BNY Mellon is making significant investments in the crypto sector, leading the $133 million Series C funding round of institutional crypto custodian Fireblocks last month

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Why Fiat Experts Don’t Get Bitcoin
published: 1 hour ago
There are various reasons traditional experts do not understand bitcoin and thus have negative views on it.

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