Cryptocurrency
Expect More Crypto Hedge Funds
As the cryptocurrency has expanded, the number of hedge funds dedicated to the burgeoning asset class has boomed as well. Expect that theme to continue even as U.S. regulators are expected to increase scrutiny on crypto hedge funds.
“Already there have been 34 new crypto fund launches this year, putting 2018 on pace to meet or exceed the record 107 launches in 2017,” according to Crypto Fund Research.
The research firm notes there are more than 260 dedicated crypto hedge funds currently in business.
“The United States was home to more crypto fund launches in 2017 than any other country. This is not terribly surprising and is consistent with the US leading the world in terms of hedge funds and venture capital generally. However, there were also a number of new crypto funds launched in the United Kingdom as well as Singapore. The Middle East also had its first crypto fund launch,” according to Crypto Fund Resarch.
A Small Percentage
While crypto hedge funds are growing in terms of population, many do not have more than $5 billion in assets under management, a figure that is small by hedge fund industry standards. Today, hedge funds dedicated to alt-coins and digital assets represent a paltry percentage of industry assets.
“While accounting for 14 per cent of new hedge fund launches may not seem like much, consider that crypto funds have less than 0.1% of total hedge funds assets,” reports Hedge Week.
However, there are some positive points, including the overall growth of crypto hedge funds and their impressive 2017 performances.
“In fact, crypto hedge funds are the fastest growing segment of the hedge fund industry. In addition, several of the top performing hedge funds in 2017 were cryptocurrency funds,” notes Crypto Fund Research.
Bitcoin
Bitcoin (BTC) Crosses 55k And Is Heading Towards 60k Fast!
Less than two months into 2021, the price of bitcoin has risen 95.4%.
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Binance
Binance Coin (BNB) Is Heading Towards $300 With A 60% Increase Today!
BNB is currently skyrocketing towards $300 after Binance CEO appeared on Bloomberg to discuss the current rise of BTC and other cryptocurrencies. During the interview he was asked about Binance Coin.
You can view the full interview by clicking here
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Cryptocurrency
Elon Musk Suggests Major Dogecoin Holders To Sell
Billionaire Tesla CEO Elon Musk urged some of the top hodlers of Dogecoin to sell their holdings and take profit. He said he was concerned that a small number of people are hoarding too much of the cryptocurrency.
If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo.
— Elon Musk (@elonmusk) February 14, 2021
He later added that he would pay actual money for them to just void their accounts. This caused the cryptocurrency to spike initially then drop down to 4.8 cents late Sunday, a roughly 45 percent drop from the all time high of 8.7 cents reached just last week.
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