The cryptocurrency industry received about $2 billion in investment from hedge funds this year. The number of hedge funds created to focus on cryptocurrency ventures has grown to 84 this year – to put that into perspective, last year the number was 11, and 4 in 2015.
Altogether, the funds made returns of 1,641% as of November 2017, according to hedge fund research company HFR. That figure was 292% for the whole of 2015.
According to CoinDesk, Miller Value Partners, a hedge fund with more than $2 billion in assets under management, is one example of significant investment in Bitcoin. Chairman Bill Miller said in a podcast that one of his ventures is over 50% invested in Bitcoin – he originally bought some back in 2013. Said Miller: “I’d be fairly confident to say it won’t be 50% of the fund for that much longer, which does not mean necessarily we are going to sell it.”
Chief Executive Officer James Gorman stated back in September that Bitcoin is more than just a fad. “It’s obviously highly speculative but it’s not something that’s inherently bad,” he said at an even held by the Wall Street Journal.
Source: Finance Magnates
Trader Bozhidar Arabadzhiev
Original Post: Morgan Stanley: $2 Billion Invested in Cryptocurrency by Hedge Funds in 2017
Read more:
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.