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Fundo Verde, by Luís Stuhlberger, reveals opening of position in Bitcoin
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Verde Asset Management, one of the largest fund managers in Brazil, decided to take advantage of the appreciation of Bitcoin (BTC) within its portfolio. In this sense, Luis Stuhlberger’s manager included cryptocurrency within the Green Fund, its main hedge fund.
According to the fund’s latest management report, Verde decided to “start a small long position in Bitcoin”, but without revealing the amounts invested. The setting up of the position, according to the report, took place on the eve of the United States election, which marked Donald Trump’s victory.
On the other hand, Verde Asset reduced exposure to assets linked to the US inflation rate and increased its participation in the Chinese yuan. In other words, he bet on the growth of China’s currency.
The Verde fund is one of the most respected hedge funds in Brazil, and Luis Stuhlberger is one of the most respected names in terms of management. Since its creation in 1997, the Verde fund has stood out for its diversified approach, investing in a combination of equities, fixed income, currencies and derivatives.
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Verde Asset Management is one of the largest independent managers in the country, managing around R$24 billion in assets, according to 2024 data. In terms of income, the Verde fund has appreciated by more than 24,300% since its creation until December 2023.
In the short term, the Green fund presented returns of 11.42%, slightly above the 12-month Selic rate, which is 11.06% (data from October). From January 1, 2024 until October 31, 2024, the fund returned 0.11%.
BTC, in turn, has soared more than 30% in the last seven days and reached its all-time high at $89,500. In Brazil, the cryptocurrency surpassed the R$500,000 mark for the first time in history. This means that Verde Asset recorded a considerable profit, taking into account that its investment occurred before the strong rise in BTC.
Verde also went with the market, which bet on BTC as investors continue to buy the cryptocurrency, motivated by Trump’s defense of digital assets during his campaign. The president-elect has repeatedly defended the use of Bitcoin and stated that he will create more flexible rules for companies in the sector.
Since last week’s vote, Bitcoin has risen more than 25%, while the yuan has depreciated by almost 2%.
Finally, Verde highlighted that it remains neutral in relation to Brazilian assets, such as shares. In her document, the manager warns that the government “systematically promised more than it is capable of delivering” in terms of tax reforms. In other words, the expected reforms and spending cuts are far below what the market expected.
Fundo Verde, by Luís Stuhlberger, reveals opening of position in Bitcoin
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Fundo Verde, by Luís Stuhlberger, reveals opening of position in Bitcoin
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Fundo Verde, by Luís Stuhlberger, reveals opening of position in Bitcoin
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Fundo Verde, by Luís Stuhlberger, reveals opening of position in Bitcoin
