Global Equity Head at Jefferies Says the Investment Bank Will Buy Bitcoin and...
Christopher Wood, the global head of equity at Jefferies, a global financial services company, says the firm will reduce exposure to gold in favor of bitcoin. He adds that there are plans to increase the crypto component of Jefferies’ long-only global portfolio for U.S. dollar-denominated pension fund if and when the bitcoin price drops from current levels. As a result of this decision, 5% of the fund will now consist of bitcoin. The Case for Bitcoin Before making the decision, Jefferies allocated funds as follows: 50% towards (now 45%) physical gold bullion, 30% to Asia ex-Japan....
Related News
The head of global equity strategy at Jefferies, an investment bank and asset management firm, says that cryptocurrency regulation in the U.S. would “ultimately be very positive” for bitcoin or other crypto assets. It will also be more accommodating than China’s authoritarian approach to crypto regulation. US Regulation Would ‘Ultimately Be Very Positive’ for Mass Adoption of Bitcoin, Cryptocurrencies Christopher Wood, Head of Global Equity Strategy at Jefferies, discussed cryptocurrency regulation in his most recent weekly research note, Greed & Fear.....
Crossover Markets Group Inc. is being launched by two former Jefferies FX brokers, and aims to make a splash in the institutional crypto investment scene. Two former Jefferies Financial Group executives are set to launch a new cryptocurrency exchange designed for institutional investors. Named Crossover Markets Group Inc. the exchange is set to debut in “late summer to early fall” following the closure of a recent seed funding round.The Crossover Markets’ website describes the new exchange as a “digital asset exchange designed to meet the liquidity needs of institutional clients.”We are....
After skyrocketing above $370 following the Reddit-driven short squeeze, GameStop shares are now trading at around $160. GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally.The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total....
Despite initial expectations of a robust rally, major cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and XRP have encountered a slowdown in momentum following a promising start in 2023. However, a prominent tech company’s leaked disclosure can alter this trajectory. With the Federal Reserve (Fed) grappling with a staggering $33 trillion US “debt death spiral,” investment banking firm Jefferies analysts have warned that the Fed may be compelled to restart its money printing presses. This move could trigger the collapse of the US dollar and ignite a significant price boom for....
Global investment bank JPMorgan is seeing little demand for crypto as a payment method. However, the bank noted that cryptocurrencies are becoming “larger and larger” in the gaming sector, including in the metaverse. JPMorgan Sees Little Demand for Crypto as a Payment Tool The global head of payments for JPMorgan’s Corporate & Investment Bank division, Takis Georgakopoulos, talked about client demand for crypto as a payment method in an interview with Bloomberg Television this week. He said: We saw a lot of demand for our clients, let’s say up until six months....