1. Home
  2. Blockchain
  3. Billionaire Steve Cohen Plans Deep Dive Into Crypto, Calls Blockchain ‘Transformational’ and ‘Disruptive’
Billionaire Steve Cohen Plans Deep Dive Into Crypto, Calls Blockchain ‘Transformational’ and ‘Disruptive’

Billionaire Steve Cohen Plans Deep Dive Into Crypto, Calls Blockchain ‘Transformational’ and ‘Disruptive’


Source: Daily Hodle

Billionaire and hedge fund legend Steve Cohen says that he’s officially “fully converted” to crypto and does not want to miss out on an asset class that he thinks has tremendous potential.

In an interview with Jawad Mian, who is the founder of Stray Reflections, an independent global macro research firm, Cohen, who heads Point72 Asset Management, says that he’s doing a deep dive into crypto and is looking at ways his hedge fund can take advantage of the nascent space.


“I’ve finally decided I’m doing a deep dive into crypto. I’ve fully converted, and I have an old saying, ‘At the poker table you’ve got to pay to learn.’ There’s no way around it. You can talk all you want, but you’ve got to get in the game. I’m hopeful that we’ll be able to start building something within Point72 in addition. We’re in the process of starting to think about that…

The timing is never good. Who knows? I don’t know if these things are going to go up.”

Rather than trading BTC, Cohen says he’s more interested in the underlying technology behind crypto, positing that it has the potential to be “disruptive” and “transformational.”

“Forget Bitcoin. I don’t care about Bitcoin. I care more about the technology behind the blockchain and how transformational it is and how disruptive it could be. I feel like the way those markets are developing could be a real interesting adjacency to what we do at Point72, and so I’m not missing this. I’m not going to miss this. I already feel like I missed the first part of it, but I still feel like it’s early.

It’s an example of wanting to look forward and take some risk. I may look foolish initially, but you know, you size it accordingly, learn the game and then when you’re confident, take it to the next level.”

According to a Fortune report, Cohen entered the cryptocurrency space in 2018 when Cohen Private Ventures invested in Autonomous Partners, a hedge fund focused on cryptocurrencies and digital assets.

As of March 31st, Point72 has $22.1 billion in assets under management (AUM) with 11 offices around the world.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix


Check Latest News Headlines

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Pakpoom Makpan/pisaphotography/Dario Lo Presti

The post Billionaire Steve Cohen Plans Deep Dive Into Crypto, Calls Blockchain ‘Transformational’ and ‘Disruptive’ appeared first on The Daily Hodl.

Go to Source
Author: Daily Hodl Staff