Bridgewater Associates Prepares to Back its First-Ever Crypto Fund: Reports

Bridgewater Associates is the most recent hedge fund large eyeing to faucet into the digital asset space with a crypto fund, in accordance to a current report.

• While Bridgewater doesn’t plan on allocating funds in cryptocurrencies immediately, it plans to put money into an exterior car, stated CoinDesk in an unique report.
• Founded by Ray Dalio in 1975, Bridgewater’s AUM stands at $150 billion. According to sources aware of the matter, the scale of the hedge fund’s funding is small in contrast to its complete AUM. However, many main crypto buyers are already in talks to put money into the fund.
• In January this year, the company launched a report titled “The Evolution of Institutional Investors’ Exposure to Cryptocurrencies and Blockchain Technologies” wherein it stated the “crypto markets are now large enough to allow for positions in sizes relevant to institutional investors.”
• More lately, Bridgewater revealed actively researching the space with out divulging additional particulars.
• Hedge funds are slowly warming up to crypto as many look to broaden their publicity. Last September, Brevan Howard Asset Management stated it was increasing its crypto business. London-based hedge fund Marshall Wace, Steven Cohen’s Point72, and Brevan Howard are additionally betting huge on the asset class.
• After being a skeptic for years, its founder Ray Dalio called Bitcoin – “one hell of an invention” and went on to add,

“It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and probably having some value in the future.”

• The legendary American investor additionally revealed holding a small portion of Bitcoin and famous that each investor ought to dedicate a small portion of their portfolio to the biggest cryptocurrency.