Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21.

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support.

How You can chip in:

Send sats as a tip to a writer. Each and every one of our writers has an active tipping widget.
Join our campaign on geyser.fund. Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Hedge Fund King Steven Cohen is Dipping into Crypto

written by

Zachary

Support free journalists: > send a tip

BITCOIN NEWS,
July 16, 2018

Steven Cohen, owner of Point72 Asset Management with around USD 12 billion in assets under management, is investing in cryptocurrency and blockchain. Cohen Private Ventures is investing in Autonomous Partners, a new hedge fund that is buying up equity in blockchain companies as well as directly investing in Bitcoin, Ethereum and other promising new cryptocurrencies.

Arianna Simpson launched Autonomous Partners in December 2017 and already it has tens of millions of dollars in investments. Coinbase CEO Brian Armstrong has also invested in Autonomous Partners, in addition to Union Square Ventures and Craft Ventures.

Autonomous Partners is focusing on investments that will be successful in the long term, picking investments that are unlikely to fold up due to ongoing regulatory volatility. Specifically, it is investing in cryptocurrency infrastructure, privacy coins like Monero, blockchain scalability, decentralized exchange protocols like 0x, and technology to speed up transactions.

This news comes amid a flurry of other institutional investments into the crypto space, including Andreessen Horowitz, Galaxy Digital, the world’s largest asset manager BlackRock, and Benson Oak. Combined, these represent at least USD 1 billion of fresh money being invested into the crypto space, which may just be the beginning of a wave of institutional investment. Simultaneously, properly licensed and regulated cryptocurrency custodians like Coinbase and Xapo are coming online, which is essential for institutional investment safety and part of the reason so many institutional investments are happening now.

Data from Autonomous Next indicates that cryptocurrency hedge funds have between USD 3.5 billion and USD 5 billion under their management, and 175 out of 251 cryptocurrency hedge funds were established since 2017. These numbers suggest cryptocurrency hedge funds are a booming industry and may be the foundation of the next big cryptocurrency rally.

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

[tip_author_button]

Help spread this article :)

Zachary

More of the Author

Disclaimer

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com