Jefferies will buy more Bitcoin if price drops

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Jefferies’s Christopher Wood, head of global capital strategy at the $50 billion asset manager, announced that he will continue the 5% Bitcoin position policy that his company started in December 2020. Wood also said that if the price reaches $20,000 again, they will increase this percentage.

Asset management company Jefferies‘ 5% Bitcoin investment policy will continue. The statement came from the company’s head of global capital strategy, Christopher Wood, and it was stated that if the price drops, this rate can be increased.

“We may not see the levels of 20 thousand again”

Saying that they invested in the biggest crypto money when the Bitcoin price was $ 22779 in December 2020, Wood said that if the price reaches this level again, they can increase by 5 percent:

“I think the 18 percent growth, which we increased from 34 thousand to 40 thousand dollars on July 26, is the liquidation of leveraged ‘short’ positions. Our investment in Bitcoin will continue at this rate. If we see the levels of 20 thousand again, we will increase our rate, but frankly, we may not see those prices again…”

In December, he cut gold and gave it to Bitcoin.

As it will be remembered, the company started to hold Bitcoin at a rate of 5 percent in December, when Bitcoin reached the level of 20 thousand dollars for the first time in 3 years and exceeded this region, while reducing the gold position in the portfolio from 50 percent to 45 percent.

Wood had previously been reluctant to invest in the biggest cryptocurrency because of the possibility that Bitcoin could be declared illegal.

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