Brevan Howard also arrives in the Cryptocurrency market
Bloomberg has announced that Brevan Howard Asset Management is preparing to start investing in digital assets.
The Aron Landy-led firm will begin by investing up to 1.5% of its leading $ 5.6 billion hedge fund in digital assets.
Brevan Howard, best known for his macro trading prowess, is expanding after a year of strong gains.
Four months ago, Eric Peters, CIO of One River Asset Management, made a purchase of $ 600 million worth of bitcoin, with the largest public bitcoin transaction also backed by Brevan Howard, who had just bought a 25% stake in One. River Management.
At the time, we noticed Howard was accumulating a number of collateral, yet important, positions related to the world of cryptocurrencies. In addition to investing in One River Digital's funds, he is also buying a stake in the company. In addition, Howard already provided One River Digital through Elwood Asset Management with trading, market analysis and technical support services.
On a side note, another investor with One River Digital, Ruffedi LLP – the fund that houses the infamous VIX '50-cent 'whale – revealed a 2.5% position in Bitcoin in one of its funds, describing it as "A small but powerful insurance policy against the continuous devaluation of the main world currencies".
Interestingly, while Brevan Howard joins the likes of Paul Tudor Jones and Marc Lasry in crypto-space among many others, we are reminded that One River's Peters – with his connections to Brevan Howard as explained above – recently noted its preference for Ethereum, despite hardly anyone understanding what it is, it is now racing towards becoming the foundation of a redesigned global financial system.
… which could explain ETH's recent dramatic BTC outperformance …
At this point, the preferences of large investors can influence the performance of virtual currencies, also because there are large numbers at stake. Given that the market is still thin, one billion more or less can change relations between crypto.
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The article Brevan Howard also arrives in the Cryptocurrency market comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/arriva-anche-brevan-howard-nel-mercato-delle-criptovalute/ on Thu, 15 Apr 2021 21:17:51 +0000.