Israeli-based Altshuler Shaham Investment House has doubled its money after it invested $100 million into the Grayscale Bitcoin Trust in late 2020. This company is the only Israeli one known to have made such a big investment of funds into Bitcoin.
The news comes as institutional interest in Bitcoin remains strong – just four days ago, Chinese tech company Meitu became the first Hong Kong-listed company to invest $40 million into crypto (it chose both Bitcoin and Ethereum).
Altshuler Shaham bought the Grayscale Bitcoin Trust shares last year. At the time, Bitcoin was being traded at around $21,000. Gilad Altshuler, co-CEO, founder, and co-owner of the company declared:
Altshuler also went on to say that the company may continue to invest in crypto:
Altshuler Shaham is one of the largest investment houses in Israel as it manages $51.5 billion in long-term savings for retirement and pension funds. The company was reported to take positions in local initial coin offerings back in 2017, so it’s not their first time at the crypto rodeo.
Altshuler Shaham Horizon is a subsidiary of the company and is even more involved in crypto. Just a week ago, it had appointed Ilan Stark as its new CEO – Stark had previously managed the trading and capital markets division of Israeli blockchain company Orbs.