American firm Lincoln Avenue Capital invests $33.5 million in Bitcoin

A U.S. investment company focused on affordable housing (доступное жилье (affordable housing)) Lincoln Avenue Capital acquired 1,000 BTC at an average price of $33,525.

Lincoln Avenue Capital has acquired 1,000 #Bitcoin at an average price of $33,525.

The purchase represents 5% of the firm’s AUM as of July 10, 2021.

The company may invest up to 20% of total AUM in the asset class in the future, per its investment mandate.

— Lincoln Avenue Capital (@LincAveCapital) July 10, 2021

The firm allocated 5% of its assets under management to Bitcoin. In the future, it will invest up to 20% of its entrusted funds in digital gold and other cryptocurrencies.

Lincoln Avenue Capital was founded in 1998. As of the end of 2020, it owned more than 10,700 real estate assets.

The company announced the cryptocurrency purchase amid a potential transition of Bitcoin into an accumulation phase. According to Dylan LeClair, co-founder of the consulting firm 21st Paradigm, this is indicated by the liveliness indicator (Liveliness).

Theoretically if every bitcoin was moved at once, liveliness would temporarily jump to 1.

— ?Dylan LeClair? (@BTCization) July 10, 2021

Large institutional investors are increasingly showing interest in the digital asset market. In some cases they eschew direct ownership of cryptocurrencies in favour of quasi-investments through the securities of companies such as MicroStrategy.

According to a filing with the SEC, the asset-management group Capital International Group, with assets of more than $2.2 trillion, acquired nearly 1 million (12.2%) of MicroStrategy’s common shares.

Earlier, MicroStrategy registered a subsidiary — MacroStrategy, to which transferred all acquired cryptocurrency. According to Bitcoin Treasuries, the latter holds 105,084 BTC (~$3.6 billion at the time of writing).

In total, corporate owners’ wallets hold more than 1.6 million BTC — about 8% of the total supply of the cryptocurrency.

In July, it was reported that the British hedge fund Marshall Wace, with assets of more than $50 billion, is considering investments in the digital asset industry.

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