Lucas Ryan of Meta Stable Capital manages to hack Monero's code, one of the most popular crypto-currencies on the market to find out if the investment is worth it. All of this is happening three years ago when Ryan selects the best crypto-currencies for Meta Stable Capital. Ultimately, the investment has made a huge profit since since then, the currency has risen more than 100 times.
The fund that trades mainly with cryptocurrencies tries to understand what technology uses a crypto-currency and then invests in it. Buying a crypto-currency, she instantly gets hacked attacks by the company's team that establishes its qualities. This is imperative as more than 1100 new cryptocurrencies have emerged on the market only from the beginning of the year to the present.
"If you do not know how it works, you do not know what you are buying, and most crypto-points have little meaning in them, and most of them will fail," said Olaf Carlson, Managing Director of Polychain Capital.
Currently, there are more than 68 hedge funds, specifically focused on crypto trading, with a total capital of about $800m, aiming to raise another $1.2bn. They all have their tech gurus who, in one way or another, hook up a crypto-wave and try to understand in detail what it's based on.
This type of hacking manages to select the best cryptoLooks, thus investing in them has a real economic value and not a bubble.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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