{"id":41658,"date":"2021-04-30T10:32:00","date_gmt":"2021-04-30T07:32:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41658"},"modified":"2025-08-30T19:43:05","modified_gmt":"2025-08-30T16:43:05","slug":"bny-mellon-says-its-bet-on-gold-over-bitcoin-was-a-mistake","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bny-mellon-says-its-bet-on-gold-over-bitcoin-was-a-mistake\/","title":{"rendered":"BNY Mellon says its bet on gold over Bitcoin was a mistake"},"content":{"rendered":"<p>The financial holding Bank of New York Mellon (BNY Mellon), with $2 trillion of assets under management, <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/914775\/000091477521000025\/lp1-250.htm\" target=\"_blank\" rel=\"noreferrer noopener\">\u043e\u0431\u044a\u044f\u0441\u043d\u0438\u043b<\/a> the lacklustre performance of the BNY Mellon Opportunistic Small Cap Fund, in part due to the absence of MicroStrategy shares, a company that invests in Bitcoin.<\/p>\n<p>The BNY Mellon Opportunistic Small Cap Fund (DSCVX), which focuses on investing in small-capitalization company stocks, rose 35% for the period from September 1, 2020 through February 28, 2021. Its benchmark\u2014the Russell 2000 index\u2014gained 41.7% over the same period.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The fund&#8217;s performance was also hurt by the decision not to acquire MicroStrategy shares, whose prices rose in light of the decision to begin <a href=\"https:\/\/u1f987.com\/en\/news\/microstrategy-becomes-the-first-nasdaq-listed-company-to-invest-part-of-its-capital-in-bitcoin\"><em>investing in the first cryptocurrency<\/em><\/a><\/em>, according to the document.<\/p>\n<\/blockquote>\n<p>According to BitcoinTreasuries, at the time of writing MicroStrategy owned 91,579 BTC, valued at nearly $5 billion \u2014 2.2 times the purchase price. The company&#8217;s shares had risen 5.2x over the period. As of April 30, they were 12.7% lower than on February 28. During this period, Bitcoin&#8217;s price rose 18.5%.<\/p>\n<p>Another reason for DSCVX&#8217;s lag behind the benchmark, according to BNY Mellon, was its position in Alamos Gold, which &#8220;deteriorated performance amid gold-price weakness&#8221; in the document.<\/p>\n<p>ETF.com notes that 88 ETFs invested in MicroStrategy stock, on average 0.57% of their assets.<\/p>\n<p>Back in February 2021, BNY Mellon announced adding <a href=\"https:\/\/u1f987.com\/en\/news\/americas-oldest-bank-to-offer-bitcoin-custody-services\">Bitcoin custody service<\/a> to its lineup.<\/p>\n<p>In March this year, BNY Mellon <a href=\"https:\/\/u1f987.com\/en\/news\/paradigm-and-galaxy-digital-backed-custodian-fireblocks-raises-133-million\">invested<\/a> in the custodian Fireblocks.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The financial holding Bank of New York Mellon (BNY Mellon), with $2 trillion in assets under management, attributed the underwhelming performance of the BNY Mellon Opportunistic Small Cap Fund in part to the absence of MicroStrategy shares, a company that invests in Bitcoin.<\/p>\n","protected":false},"author":1,"featured_media":41659,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1682,1207,1211],"class_list":["post-41658","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-bny-mellon","tag-microstrategy","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=41658"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41658\/revisions"}],"predecessor-version":[{"id":41660,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/41658\/revisions\/41660"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/41659"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=41658"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=41658"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=41658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}