HUGE: PIMCO CIO Says Bond Giant Plans To Buy More Crypto As Bitcoin Surges To Record High

This should take Bitcoin to the moon!!!

(ZeroHedge) As bitcoin prices surge to new record highs while inflows into the new bitcoin ETF (which holds exactly zero actual bitcoin) are going absolutely gangbusters, more institutional players are revealing plans to get involved in crypto trading.

Speaking to a CNBC reporter Wednesday during the TV Channel's "Seeking Alpha" conference, PIMCO CIO Daniel Ivascyn announced that his firm, which has already "dabbled" in crypto, plans to gradually invest more in the nascent asset class, starting with its quant-based and "trend-following" strategies, before moving on to more long-term strategies.

"Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side," Ivascyn said in an interview with CNBC’s Leslie Picker for Delivering Alpha.

"So this will be a gradual process where we spent a lot of time on the internal diligence side speaking to investors. And we’ll take baby steps in an area that’s rapidly growing."

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