Hedge Funds Staying Away From Bitcoin
Bitcoin is setting new records each week and is the best performing asset of any class over the last three years. You would have thought that Hedge Funds would have flocked in their droves to buy large quantities of BTC but instead they are still sitting on the side. If the cryptocurrency rally continues it will be impossible for the Hedge Funds to further ignore this new digital currency.
What makes it even more remarkable is that Bitcoin has performed far greater than the S&P 500 index. So far this year it is up around 8% which is tiny compared to the vast returns Bitcoin has provided this year. The NASDAQ which Hedge Funds also like to invest their money has only risen 15%. Another popular investment with Hedge funds is Fiat currency which again has not achieved anywhere like the types of returns of BTC. The Euro has seen a 6% rise against the dollar so far this year sterling has performed badly.
Bitcoin hit an all-time high last week, marking a year-to-date rally of 180 percent and potentially stellar returns for those who bet on the cryptocurrency, but it seems hedge funds are still not ready to touch the asset class. The lighter supervision and more advanced client base enjoyed by […]