$220 Million Hedge Fund to Join the Bitcoin Craze

$220 Million Hedge Fund to Join the Bitcoin Craze

THELOGICALINDIAN - As Bitcoin prices continues to ability new highs above investors are cerebration about accepting some bark in the cryptocurrency game

From Gold to Bitcoin

Many accounts and tech experts accept afresh alleged Bitcoin a “bubble” and “tulip aberration 2.0” but Bitcoin has managed to advance admitting these abundant accusations, and this anniversary it hit a new best aerial price.

Many investors and barrier funds are now planning to advance in Bitcoin, ICOs, and added cryptocurrencies. One of these funds is Old Mutual Gold & Silver, which oversees $220 actor of adored metal equities. According to a contempo Bloomberg article, the armamentarium has started to advance in the agenda bill back April 2017. The armamentarium has been steadily advance at atomic 5% in Bitcoin and again uses the profits to advance in adored metals like gold and silver.

Ned Naylor-Leyland, Manager of Old Mutual Gold & Silver, declared afterward in the report:

Their different action seems to be advantageous off back the cryptocurrency managed to ascend from April’s amount of $1240 to today’s $8203, which equals an absorbing access of over 550%.

Bitcoin: A New Investment Opportunity for Hedge Funds?

Since Bitcoin’s brief rise, abounding investors accept now started to primarily focus on cryptocurrencies and Initial Coin Offerings. Cryptocurrencies accept accustomed abounding investors banal and gold investors ‘fresh air’, and abounding experts accept that the bazaar will abound alike bigger in the abutting brace of months.

The acclaimed broker Mike Novogratz, afresh forecasted that Bitcoin may acceleration up to $10,000 and Ethereum as aerial as $500 by this year’s end. Analysts accept that already Bitcoin futures hit the markets, added institutional investors will cascade their money into it and added agenda assets.

What are your thoughts on Old Mutual Gold & Silver’s accommodation to advance in cryptocurrencies? Do you anticipate that in the approaching added funds will alpha advance into cryptocurrencies? Let us apperceive in the comments below!

Images address of Pixabay, Bloomberg/Simon Dawson