UK-based Brevan Howard to Invest $84 Million In Cryptocurrencies.

It is no wonder that more conventional organizations are joining the crypto space by investing in bitcoin or embracing blockchain technology. A prominent UK-based asset management firm, Brevan Howard, is preparing to fund digital assets undeviatingly. The move comes after a year of exposure to the crypto space. As per a Bloomberg report, Brevan Howard Asset Management will allocate 1.5% of the $5.6 billion in its main hedge fund to crypto, which is nearly $84 million. 

A source close to the matter elucidates that the two co-founders of crypto investment firm Distributed Global, Tucker Waterman, and Johnny Steindorff, would be leading Brevan Howard’s venture into crypto. Brevan Howard has made various bets in crypto firms over the years. However, they are now taking a direct exposure approach with crypto assets. It recently purchased a 25% stake in the U.S.-based One River Asset Management, a $2.5 billion company whose crypto funds are supported by Alan Howard.

Brevan Howard Evaluates the Boom in the Crypto Industry

Brevan Howard is well-known for its macro trading, is now expanding its investments after a year of record gains. Brevan Howard has become the most advanced fund manager attempting to examine the boom in crypto assets. The move is the latest evidence that crypto assets are going mainstream as the European fund manager joins Billionaire hedge fund managers Stanley Druckenmiller and Paul Tudor, Jones. These billionaires have transformed into famous crypto supporters, calling Bitcoin a better store of value against weakening fiat currency and a better asset than gold.

The asset management company will concentrate on a wide range of crypto in enhancement to bitcoin, speculating that the price of the crypto asset will rise. At the time of writing, bitcoin’s price is trading at $62,775, having dropped 1.3% in the last 24 hours. In May 2020, popular macroeconomic investor Paul Tudor Jones purchased Bitcoin to guard his portfolio against the adverse effect of central-bank-induced inflation. He assessed various sorts of potential investments and decided that Bitcoin was the best alternative. 

Moreover, in November 2020, Stanley Druckenmiller, a billionaire hedge fund manager, purchased Bitcoin to profit as the dollar continued decreasing in value. Michael Saylor, Paul Tudor Jones, Jack Dorsey, Stanley Druckenmiller, and several other Bitcoin bulls are amongst the best and most appreciated investors now purchasing Bitcoin in vast amounts as the crypto is increasing as a store of value.

https://www.industrynewsengine.com/