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US News billion-heavy hedge fund manager Steve Cohen: "I am completely converted to Krypto"

06:05  28 september  2021
06:05  28 september  2021 Source:   finanzen.net

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The crypto industry has found a new trailer: hedge fund manager Steve Cohen recently expressed themselves on a conference in New York euphoric about the disruptive potential of the blockchain Technology. He see Krypto's chances that he does not want to miss, so Cohen. Appropriate Investitons he has already made - at least private - even.

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• Son convinces Cohen of Meaning of Krypto Industry

• Private Investment and Building Crypto-based Resources at HedgeFonds Point72 Asset Management

• Interest in blockchain technology, not to Bitcoin

It took something, but now Hed fund billionaire Steve Cohen has discovered its enthusiasm for the crypto industry. Cohen, who is described in the media as a former crypto critic, has created a clarity, especially his son he referred to as "Krypto Crazy" according to "Bloomberg". He got him "really convinced that that's something I have to do," Cohen said loud "Bloomberg" at the Salt Conference in New York with a view to investment in the crypto sector. Thanks to his son, the 65-year-old hedge fund manager, which according to the US News site has a fortune of $ 11.1 billion, took a closer look at the industry over several months - and a tremendous potential recognized. "When I decided that there are opportunities there, and I thought that this could be a sector like the internet - it could be incredibly transforming - I did not want to miss it anymore," said the founder of the HedgeFage Point72 Asset Management at the Conference.

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Cohen Nevertheless not interested in Bitcoin

Chances sees Cohen, which also includes the baseball team New York Mets, especially in blockchain technology and less in crypto currencies such as Bitcoin . "I'm not interested in Bitcoin, I'm interested in the technology behind the blockchain and how transforming it is and how disruptive you could be," said the billionaire according to "Cryptopotato" at the beginning of September.

This interest in the entire crypto industry - and not at individual crypto tokens - is also reflected in the previous investment of hedge fund manager. - bitcoin action with plus 500 - that's how it works. 72% of private investor accounts lose money if you are using this provider CFDS . You should carefully check if you can afford to take the high risk of losing your money. - According to information from "Bloomberg", Cohen announced in mid-September a personal investment in Radkl, a quantitative trading company for digital assets. He also took part in a funding round of the NFT marketplace Recur, which could collect a total of 50 million dollars of Cohen and other investors in a financing round of the NFT marketplace. The company's NFT platform, which has been rated $ 333 million since the financing round, is scheduled to start in the coming year and allow fans to buy and sell NFTs of brands, companies or stars.

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as "Bloomberg" reports, Cohen said at the Salt Conference, as well as his hedge fund Point72 was just about building resources for Krypto Trading. Already in June, "DealBreaker", citing insiders, reported that the hedge fund is currently looking for a "Head of Crypto".

hedge fund manager as a fomo victim?

At Cohen's current enthusiasm for the crypto area, however, the fear seems to miss something to play a role. The phenomenon called "Fear of Missing Out" - or short "Fomo" - refers to the concern not to be able to participate in a recovery - and can also be found in Cohen's statements again and again. "I will not miss that," he said, for example, "u.today" a few months ago in an interview. "I missed the first part, but I feel that I'm still early on," says the investor. The crypto market is still "still in the early phase of institutional adoption," said Cohen, according to "Business Insider" in a press release to his investment at Radkl.

that he has not jumped on the train earlier, Cohen seems to regret. "I am completely converted to Krypto. You have to pay to learn that can not be dealt with. You can talk, so much you want, but you have to join in this game," says the investor "U.Today". Editorial Finanzen.net

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