Billionaire investor Steven Cohen, once dubbed the "Hedge Fund King," has reportedly entered the crypto space.
According to a Fortune article published July 12, Cohen has invested in cryptocurrency-focused hedge fund Autonomous Partners through his VC firm Cohen Private Ventures.
Autonomous Partners was founded last December by Arianna Simpson, a venture capitalist with a history in the bitcoin space, including a time at bitcoin wallet startup BitGo.
Her crypto fund has already secured investments from big names including Coinbase CEO Brian Armstrong, Union Square Ventures and Craft Ventures.
While the size of the new investment was not revealed, it's not the first time Cohen Private Ventures has invested in Simpson's projects.
In 2015, her venture fund, Crystal Towers Capital, also received an investment from the firm.
Simpson told Fortune that Autonomous Partners is currently concentrated on smaller, "Next generation" cryptocurrencies, though it invests to some extent in major cryptos like bitcoin and ether.
Cryptocurrency-focused hedge funds have rapidly grown in number over the last year as entrepreneurs move satisfy the increasing demand from traditional investors.
According to data from Autonomous Next, of an estimated 251 crypto hedge funds with $3.5-5 billion in assets under management, 175 of them were only established in 2017.
CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
Hedge Fund Billionaire Steven Cohen Is Getting into Crypto
pubblicato su Jul 13, 2018
by Coindesk | pubblicato su Coinage
Coinage
Menzionato in questo articolo
Notizie recenti
Vedi tutti
First Mover: What's Next for Bitcoin as Wall Street Gets Vaccine Booster
Bitcoin was higher for a second day, staying in a range of between roughly $15,200 and $15,600, as news of progress in developing a coronavirus vaccine appeared to touch off a rally in U.S. stocks.
Market Wrap: Bitcoin Fails to Break $15.9K; Over 50K ETH Staked on Eth 2.0 Contract
Bitcoin gained Wednesday while Ethereum 2.0 staking has been ramping up.
Citibank Analyst Says Bitcoin Could Pass $300K by December 2021
A senior analyst at U.S.-based financial giant Citibank has penned a report drawing on similarities between the 1970s gold market and bitcoin.
Blockchain Bites: Data Unions. Hard Forks. And One Citi Analyst's Case for $300K BTC.
A Citibank managing director thinks bitcoin could hit $318,000.