Franklin Templeton, one of the world’s top asset managers with more than $1.5 trillion in assets under management, is placing a sizable bet on Bitcoin and the underlying blockchain technology.
During an interview with Scott Melker of the Wolf Of All Streets podcast, Sandy Kaul, senior vice president of Franklin Templeton’s growing crypto company, disclosed this plan on Sunday.
When asked how Franklin Templeton got started in the digital asset area, Kaul said the firm was “intrigued by the technology behind Bitcoin” and “decided to experiment on blockchain” to improve efficiencies and save costs across the organisation.
As a result, in 2021, the business established a venture capital fund just for investing in cryptocurrencies and has begun researching individual coins, constructing multi-coin portfolios, and investing in different crypto enterprises. To further explain the evolution of the Bitcoin network, she revealed that Franklin Templeton runs its node operations.
Kaul also emphasised that Franklin Templeton is generally interested in cryptocurrencies, not only Bitcoin. She praised investors for being open-minded and seizing new chances, such as those of the cryptocurrency’s blockchain.
People are overly focused on Bitcoin alone and must consider the larger ecosystem…According to Kaul, “Bitcoin is an enormous Innovation, and we anticipate it will have enormous future possibilities.”
Kaul said that institutional investors’ interest in cryptocurrencies, led by Bitcoin, will continue to rise. She brought up how the cryptocurrency business is cyclical, with bull markets happening regularly since 2011.
She claims that large investors wait for times when prices are low, and attention is diverted from the industry. Similar to the decade-plus period it took for alternative assets to gain traction, the present crypto winter was when institutions positioned themselves strategically in the market.
In addition, Kaul stressed the need for institutional participation in building a stable market foundation, which would be necessary for resurrecting cryptocurrency prices after significant price drops.
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