The company, which has $80 billion in assets under its management, has indirectly invested in cryptocurrencies. Recently, giant chip maker Intel announced a similar investment. According to the information received today evening, Tiger Global Management bought approximately 2.6 million shares of Coinbase. This investment by the company shows strong adoption of crypto by the mainstream.
Indirect Crypto Investments of Giant Companies
Tiger Global Management LLC announced its investment in Coinbase shares a few minutes ago. The news did not have a serious impact on the Bitcoin price. Bitcoin (BTC) finds buyers at $ 47,588. With the release of the second-quarter data, the indirect or direct crypto investments of many corporate companies are disclosed. Tiger Global, which bought Coinbase shares with Intel in the second quarter of the current year, has now become a crypto investor.
Indirect crypto investments are more preferred because the regulations are not mature yet. Companies are not directly exposed to crypto by choosing this method as it is more secure. For example, this is one of the reasons why GBTC shares attract so much attention. Many corporate companies invest in blockchain R&D companies or cryptocurrency exchanges. The development of the crypto money ecosystem in the long term is of course in the interest of companies that make indirect investments.
Tiger Global Indirect Crypto Investment
The investment company, which has a history of nearly 20 years, has assets of 79 billion dollars under its management. Tiger Global, one of the popular hedge funds, brought in approximately $10.5 billion to its investors in 2020, making it one of the most profitable funds.
Investing in growth-oriented companies based in the USA, India, and China, Tiger Global mainly participates in A and B series investment tours. In other words, they have a strategy to invest in companies with high potential in the early period. The New York-based company has offices in many parts of the world.
Focusing on companies with high growth potential, Tiger Global will have accepted the light in the crypto money markets and wanted to own Coinbase shares.