Altshuler Shaham, the biggest investment house in Israel, has gained exposure to Bitcoin by putting $100 million into the shares of Grayscale Bitcoin Trust (GBTC), Globes reports.
The transaction took place at the end of 2020, which means that the asset manager has already made a handsome profit of over 100 percent.
Gilad Altshuler, the CEO of the asset manager, claimed that they had bought GBTC shares when Bitcoin was trading near $21,000:
“This is a new investment for us. It took several months until we received all the relevant approvals…”
When the cryptocurrency hit new highs in early February, Altshuler Shaham took profits on about a third of the initial investment.
