A $1 Billion Hedge Fund Looking to Hire a Head of Cryptocurrency Investments
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Answer A $1 Billion Hedge Fund Looking to Hire a Head of Cryptocurrency Investments
After Bitcoin and cryptocurrencies achieved high returns, many financial and investment institutions are looking at this asset in a different way, and looking for ways to benefit from it.
According toInformed sources US-based hedge fund Point72, worth $22 billion, is looking for a leadership position in its cryptocurrency investment suite.
Point72 Asset Management Fund — overseen by Steve Cohen, a hedge fund managing more than $22 billion in assets — is looking to appoint the head of the crypto investment suite.
According to the aforementioned source, the hedge fund is looking to diversify its assets and will offer Bitcoin investments to its high net worth clients.
Read:As consolidation upgrade approaches… Ethereum derivatives trading volume exceeds Bitcoin derivatives
With the move, Cohen is looking to spark institutional appetite for bitcoin across Wall Street, which could start the bullish momentum toward the cryptocurrency once again.
Despite the promising news, bitcoin is still trading below $35,000, after a 45% drop from its all-time high last April.
Steve Cohen has joined the group of billionaires, including Elon Musk, in the quest to own cryptocurrencies, stressing that he has completely transformed his view of cryptocurrencies, and is looking to buy some of them.
In an interview shared last week, Cohen said:
I’m doing a deep dive into cryptocurrency.
I have completely transformed.
I will not miss this.
I already feel like I missed the first part of it.
Cohen also alluded to the latest job offer posted by his hedge fund:
It’s never a good time to get in…but we’ll see.
Regarding cryptocurrencies, Cohen added:
I hope we can start building something inside Point72.
We’re going to start thinking about that.
However, Cohen does not spend all of his focus on bitcoin but rather on the technology behind bitcoin, the “blockchain.”
Read:Terra Founder: I bet big and I think I lost!
As he commented about it:
I don’t care about bitcoin.
I am more interested in the technology behind Bitcoin, how transformative it is and how effective it can be.
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