By Divya Chowdhury and Bansari Mayur Kamdar

DAVOS, Switzerland (Reuters) – Despite seeing Bitcoin break above $100,000 and the inauguration of Donald Trump, who has pledged to be a “crypto president” in the United States, some of the largest investors in the world said this week that they still plan to continue. the margins

“I’m not an advocate, not a critic … it’s not what it was meant to be, which was an alternative to banking,” said Anne Walsh, chief investment officer at New York and Chicago-based Guggenheim Partners. .

“For me, what really correlates with crypto is the Nasdaq; it’s an indicator of risk appetite for me,” he told the Reuters Global Markets Forum on the sidelines of the World Economic Forum’s annual meeting in Davos.

Walsh said his investment firm, which manages more than $335 billion in assets, has so far not invested in crypto.

Meanwhile, Nicolai Tangen, chief executive of Norway’s $1.8 trillion sovereign wealth fund, the world’s largest, said he did not see crypto becoming part of Norges Bank Investment Management’s portfolio.

Bitcoin hit a record high of $109,071 on Monday when Trump was sworn in as president.

The world’s biggest cryptocurrency more than doubled in price last year after US market regulator approval for exchange-traded funds (ETFs) linked to its spot price and optimism for easing regulatory hurdles with Trump’s return to the White House.

“As an investor, what makes it challenging is figuring out what the true fundamental value of crypto is,” said Saira Malik, CIO and head of equities and fixed income at Chicago-based asset manager Nuveen. .

Malik said Nuveen, which has $1.3 trillion in assets under management, has no direct exposure to crypto. However, it invests in companies that could be exposed to the digital asset.

“There’s a lot of technology, a lot of brainpower and talent that you need to bring to an organization to really excel at (crypto),” said Melissa Stolfi, chief operating officer of asset manager TCW Group, based in los angeles

Stolfi said his firm, which manages nearly $200 billion in total assets, remained focused on improving and maintaining its core business.

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(Reporting by Divya Chowdhury in Davos, Bansari Mayur Kamdar and Mehnaz Yasmin in Bangalore; Editing by Alexander Smith)