The financial director of the world's largest hedge fund has left his position for a crypto investment firm
John Dalby, chief financial officer of Bridgewater Associates, the world's largest hedge fund, has moved to a similar position at NYDIG, a company specializing in bitcoin investments. Bridgewater Associates manages $140 billion in assets, and Dalby's new appointment is already being called one of the most notable cases of moving personnel from traditional finance to digital.
NYDIG recently raised $300 million with the support of Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Liberty Mutual, Starr Companies, and FIS. The company actively helps institutional investors to buy cryptocurrency and recently announced that soon, through its mediation, customers of hundreds of American banks will have access to bitcoin.
"NYDIG is showing incredible growth," Dalby said. – Every day, more and more industries are coming to understand bitcoin and more and more customers are looking for secure ways to access it. Personally, I share NYDIG's vision of bitcoin's ability to empower anyone with economic opportunities."
At the same time, Bridgewater Associates says that it is not yet ready to contact bitcoin due to the high volatility of the cryptocurrency. The company's founder, Ray Dalio, has been critical of bitcoin in the past, but has recently softened his attitude. "Bitcoin can be used to diversify gold and other similar means of accumulation. The main thing is to have some types of these assets in the portfolio along with stocks and diversify among them. Not everyone does it, " he said in December.
In 2018, Alecia Haas, chief financial officer of one of the world's largest alternative asset managers, Sculptor Capital Management, left the firm to join the cryptocurrency exchange Coinbase.