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Today, F Street, a private lending and alternative investment firm, declared it has commenced adding Bitcoin to its corporate treasury, aiming to amass $10 million in BTC.
The firm initiated daily BTC acquisitions on June 9, utilizing business revenue and treasury assets. This initiative is part of a larger approach to fortify F Street’s financial foundation and bolster its real estate lending and investment endeavors.
“Bitcoin presents an attractive safeguard against inflation and currency devaluation,” stated F Street’s Chief Operating Officer Mike Doney. “Integrating it into our treasury represents a tactical move to safeguard and enhance value for our investors and our business interests.”
In adherence to its promise of transparency, F Street also intends to create a public proof of reserves, enabling stakeholders to independently confirm the management of its Bitcoin holdings. The firm seeks to cultivate a significant BTC position that aligns with its long-term vision for a capital framework.
F Street’s action coincides with a period of increasing institutional interest in Bitcoin, as many key figures in the financial sector are beginning to endorse it. Billionaire investor Paul Tudor Jones, discussing today in an interview with Bloomberg, identified Bitcoin as a vital component of what he regards as the optimal portfolio to combat inflation.
“What would an ideal portfolio entail… It would likely be a blend of gold, volatility-adjusted Bitcoin, gold, and stocks,” Jones mentioned. “That is probably your most effective portfolio to counteract inflation. Volatility-adjusted because the volatility of Bitcoin is, of course, five times that of gold, so adjustments need to be made.”
Adding to the momentum, the Head of Digital Assets at BlackRock, Robert Mitchnick, elaborated two days ago on what is truly driving the surge in demand for Bitcoin ETFs.
“It’s a multitude of factors coming together. Initially, it was retail and investor demand…” remarked Mitchnick. “Now, more recently, we have witnessed a consistent increase in wealth advisor adoption and more institutional engagement. It’s a combination of individuals investing in crypto for the first time, and on the other side, many who have long invested in Bitcoin and are taking advantage of the ETP wrapper.”
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