Dollar billionaire fund manager preparing to enter the cryptocurrency market

It is stated that #Steve #Cohen, who is the #dollar #billionaire hedge fund manager and owner of the #Point72 asset management company, is preparing to enter the cryptocurrency universe.

While Point72, which has $ 22 billion in assets under its management, is claimed to want to step into the crypto money market with all its strength, the company has now made some investments with Point72 Ventures, the venture capital arm, and also applies "long / short" position strategies on the hedge fund side. specified.

When the news came out, they sent a letter of explanation
According to the special report of The #Block , after the news that the company will enter the cryptocurrency universe, the company, which sent an information letter to its investors, used the following statements on the subject:

🔆"We can't ignore it"🔆
“We are closely monitoring blockchain technology and its transforming capacity. Ignoring a $ 2 trillion market means we don't care about our business. It is too early to say anything about which way and which way we will go now, but we will definitely inform you ”

They were on the losing side in the #GameStop incident
Point72 also owns a stake in New York-based investment management firm #Melvin #Capital. When Melvin suffered a severe loss in the recent GameStop incidents, the effects extended to Point72. However, Point72, which managed to raise $ 1.5 billion in funds, breathed in this way. Experts state that the company will make new investments with the $ 1.5 billion collected.

🚨Investment managers come to crypto🚨
It is known that the #Millennium company, which is seen as the biggest competitor of Point72 and has $ 40 billion in assets under its investment, has also invested in Bitcoin through #Grayscale's Bitcoin Trust.

🚨Ray Dalio, another #hedge #fund manager of the dollar billionaire and owner of Bridgewater asset management company, recently said in November that Bitcoin cannot be a custodial asset, but later changed his mind, “Bitcoin has proven itself in 10 years. It became a asset protection tool and became a digital currency. These are very important pluses, ”he said.