Despite the dramatic correction in cryptocurrency markets this week, Asian institutions are still investing in crypto. Thailand’s publicly listed The Brooker Group, a financial consulting, real estate consultancy and capital management company, announced today that it holds approximately US$35 million in digital assets and decentralized finance tokens.
- The Brooker Group, which is listed on the Stock Exchange of Thailand’s Market for Alternative Investment, also announced that a further US$3 million will be allocated for DeFi investments in the second quarter of 2021.
- Varit Bulakul, president of investment banking and digital assets at The Brooker Group, said: “We see the current price volatility and speculation as a short-term correction in a booming market. This sharp dip, brought on by Bitcoin’s nosedive, highlights the critical need for asset diversity and a well researched investment portfolio. After a strong bull run, companies and funds that overleveraged on Bitcoin alone will now have confused shareholders and board members to answer to. In the long term, we remain bullish on digital assets and have renewed confidence in our strategy to create a diversified, long-lasting and prosperous portfolio of digital assets.”
- According to a filing with the Thai stock exchange, The Brooker Group’s investment strategy in cryptocurrency will be “a diversified portfolio of multiple sectors in the digital asset ecosystem, including but not limited to Bitcoin, Ethereum, Binance, Uniswap, Enjin, Filecoin, and other stablecoin digital currencies.”
- The Brooker Group is currently completing due diligence for significant investments in 2-3 projects using the newly dedicated funds. The purpose of the funds is to invest in innovative projects looking to create new use-cases and revenue models in decentralized finance.