Brazilian asset manager Kinea makes exploratory investments in Ethereum -

One of the largest asset managers in Brazil, Kinea, announced that he did a exploratory investment in Ethereum. The announcement was made by Marco Aurélio Freire, fund manager at Kinea, who stated that the company had been investing a small part of its stocks in Ethereum for two months. Kinea, the Banco Itau investment arm, manages assets of more than $ 56 billion (approx. $ 10.2 billion).

Kinea examines crypto investment

Kinea, one of the leading asset managers in Brazil, made an exploratory investment in the world of cryptocurrencies. The company that managed enormous assets decided to invest in an investment in ether Instead of the most popular choice Bitcoin. Marco Aurélio Freire, fund manager of the company, explained Local media was made two months ago. Freire did not announce the amount of the investment, but said that it was a small amount to test the market.

Freire believes in the role of cryptocurrencies as a necessary asset to diversify portfolios. He indicated:

I see cryptocurrencies as a secular trend where it is worth committed.

With its views on the current situation in Brazil and the need for an international diversification of the facilities, this seems to be able to agree. Crypto-assets can support investors in diversifying their portfolios.

Ethereum vs. Bitcoin

For many, the choice of Kinea in a world that is dominated by Bitcoin investments at institutional level could be strange. Freire justified this choice by the fact that Bitcoin was the Kickstarter of the decentralized financial world, but other currencies also had many interesting things to offer. Freire emphasized:

People confuse cryptocurrencies in general with Bitcoin, but the cryptocurrency market offers much more than just Bitcoin.

In this sense, Frei referred to the recent success that Nfts (not fungible tokens) and how this success revived the collector and sports market. Manager from Kinea had already explained that Bitcoin was the first cryptocurrency to have a relatively simple design. However, other cryptocurrencies came to refine the concept based on Bitcoin and tackle problems such as scalability and environmental pollution. Kinea managers said:

We believe that more developed currencies and protocols should be more attractive for investors.

And in retrospect, Kinea's investment has developed pretty well. Two months ago, on August 18, the Price ether was $ 3,184. Now the crypto asset is worth $ 3,855 at the time of writing.

What do you think of Kineas Ethereum investment? Tell us in the comment area below.

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