Despite Bitcoin’s Scorching Run, Big Investors Stay On Sidelines
DAVOS, Switzerland (Reuters) – Some of the world’s largest investors said they plan to stay on the sidelines as the cryptocurrency market continues to gain momentum, with several having so far refrained from investing in digital assets.
Anne Walsh, chief investment officer at Guggenheim Partners, which manages assets of over $335 billion, said that to her, crypto correlates more with the Nasdaq index and is a risk-on appetite indicator. She emphasized that her investment firm has not invested in crypto, and doesn’t see it as an alternative to banking as it was originally intended.
Nicolai Tangen, CEO of Norway’s $1.8 trillion sovereign wealth fund, said he doesn’t see crypto becoming a part of Norges Bank Investment Management’s portfolio.
Saira Malik, CIO and head of equities and fixed income at Nuveen, which manages $1.3 trillion in assets, also stated that the asset manager doesn’t have any direct exposure to crypto, although it does invest in companies that could be exposed to the digital asset.
Melissa Stolfi, chief operating officer at TCW Group, which manages nearly $200 billion in assets, said that her firm remained focused on enhancing and maintaining its core business, and doesn’t see crypto as a priority.
