Former hedge fund manager Michael Novogratz said Monday that Bitcoin (BTC) could more than double to $100,000 by the end of 2021 as more people are allowed .
Public-listed companies are upping their stakes in bitcoin, which could provide long-term support to the price of the world’s first and most secure cryptocurrency. Their participation could also reduce market volatility several years down the road, potentially making bitcoin a more attractive asset class that may even be equivalent to gold in terms of importance.
T M Lee, co-founder of CoinGecko, says the participation of public-listed companies and other institutional investors is the key difference between the current bitcoin bull run and the previous one in 2017.
“Many retail investors have joined the bitcoin market in the past two months as its price rallied, but, surprisingly, the number is not as large as it was three years ago. The participation of institutional investors is really the key difference between the two upcycles,” he says.
Press release content from Business Wire. The AP news staff was not involved in its creation.
CI Global Asset Management Files Preliminary Prospectus to Re-Open CI Galaxy Bitcoin Fund
January 13, 2021 GMT
TORONTO (BUSINESS WIRE) Jan 13, 2021
CI Global Asset Management (“CI GAM”) announced today it has filed and obtained a receipt for a preliminary prospectus relating to a new issue of CI Galaxy Bitcoin Fund (the “Fund”), which trades on the Toronto Stock Exchange (“TSX”) in U.S. dollars and Canadian dollars under the symbols “BTCG.U” and “BTCG.UN”, respectively.
The new issue consists of Class A units priced in U.S. dollars (the “Offering”) and will be priced so as not to be dilutive to the Fund’s net asset value at the time of pricing. The closing of the Offering is subject to regulatory and TSX approval.
El Intransigente
Hedge fund One River is newest player in cryptocurrencies. CEO Peters sees ‘generational allocation’ to digital assets.
Compártelo:
16 diciembre, 2020
A hedge fund specializing in volatility bets has emerged as one of the largest investors in
Bitcoinafter quietly buying more than $600 million in cryptocurrencies and joining forces with Alan Howard, the co-founder of Brevan Howard Asset Management. Eric Peters, chief executive officer of One River Asset Management, said in an interview he set up a new company to seize on the growing interest in cryptocurrencies among institutional investors. In addition to its initial purchases,
One River Digital Asset Management has commitments that will bring its holdings of Bitcoin and Ether to about $1 billion as of early 2021, he said.