By Shelly Melancon (Switzerland)
Top German-based asset management firm, Union Investment, has announced it would include bitcoin in its investment offerings. However, a senior executive of the firm revealed to the media that the bitcoin exposure is pegged at 2%.
More Bitcoin Exposure Soon
He further said that the firm plans to increase this percentage before the end of the year but hasn’t created a schedule yet. Union Investment’s first foray into bitcoin investment started this year, but its total asset under management currently stands at almost 370m Euros (approximately $438m).
Recently, Union Investment included a certificate that monitors bitcoin in one of its mixed investment offerings. However, much of the union’s investment portfolio is in equities, with its bitcoin investment not up to 1%.
Jason Derulo Announces Investment In Solana
SOL has been making some audacious moves recently. A robust bullish run pushed the asset into the top 10 digital assets and pushed out BNB. This past week, it also embarked on another run and set a new peak price. Then, it displaced Dogecoin from the top 7 rankings.
Yet, SOL is relenting. Today, it surged past its previous peak of $143.06, which it achieved late last week. This price action hasn’t gone unnoticed. Hence, several investors are investing in the asset, with FTX CEO topping the list.
Also read:Today, US pop sensation Jason Derulo revealed via his official Twitter handle that he has invested in SOL. But the musician was quick to clarify that he had made his investment in June. This move makes Derulo one of the celebrity icons embracing the crypto whirlwind. If this trend continues, almost all Hollywood stars will eventually identify with one crypto-related project or another.
Besides Derulo, other Hollywood celebrities who recently made a public announcement of their crypto investment are Busta rhymes and Reese Witherspoon. Busta announced that his advisors convinced him about having a stake in bitcoin, while Witherspoon revealed that she is now a crypto advocate following her investment in Ethereum.
SOL Price Action
SOL attempted to surpass its crucial resistance of $150 level. Even though it surpassed it slightly, it couldn’t maintain it. Instead, it declined to the $145 range and has maintained that level throughout today’s trading session.
Otherwise, it could have declined to its next support level, around the $131 range. As of this writing, SOL trades at about $141.86. But, it retains its seventh spot among all cryptocurrencies with its $42B market cap. A Mexican billionaire company integrated the BTC lightning network into its store chains.
Mexico’s third-richest man, Ricardo Salinas Pliego, has announced that he is a bitcoin advocate and won’t mind incorporating bitcoin payments into its Elektra store chains. Pliego made the announcement shortly after being wowed by a bitcoin video clip showing the usefulness of BTC’s lightning network from top bitcoin advocate Alex Gladstein. You’d recall that Pliego had previously revealed that 10% of his investment is now in cryptocurrency. Then, he urged his social followers to do likewise, claiming that “fiat cash now has no value.”
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