An Israeli investment firm that serves pension funds and other clients has revealed the purchase of $100 million worth of bitcoin which has now doubled to $200 million. “The $ 100 million investment has become $200 million, and of the $200 million we have already sold about a third,” said Gilad Altshuler, co-CEO and founder of the company. “This is a new investment for us. It took a few months until we got all the relevant approvals.” Altshuler Shaham has 216 billion shekels under management, worth $65 billion, making this investment in bitcoin a circa 0.3% of their total assets. That’s less than the recommendation of numerous studies for at least 1%, but Altshuler says they might buy more depending on the price action. Making this the first publicly known Israeli company to buy bitcoin as the trend of institutional adoption seemingly expands beyond the United States.
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