Christopher Wood (pictured), global head of equity strategy at Jefferies, who holds 10 percent weight in Bitcoin in his global portfolio for a US dollar-denominated pension fund, plans to book profit in the cryptocurrency once it hits the $150,000 mark, up nearly 53 percent from the current levels of $98,300.
The initial stake in Bitcoin in the pension fund portfolio was taken in December 2020 when the price was $22,779. Wood also has a 5 percent weight in a Bitcoin exchange-traded fund (ETF) in his global long-only equity portfolio. The base case, Wood said, is not to try and trade these positions, most particularly in the pension fund portfolio.
This story is from the November 23, 2024 edition of Business Standard.
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This story is from the November 23, 2024 edition of Business Standard.
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