Billionaire investor and CEO of Application 72 Asset Management, Steve Cohen, says he is taking a deep dive into cryptocurrency. Emphasizing that he is “fully modified,” the billionaire said, “I’m not going to miss this. I already feel like I missed the first part of it.”
Steve Cohen Pick ups Into Crypto, Says He Is ‘Fully Converted’
Steve Cohen is the chairman, CEO, and president of Point72, an asset directorship firm with approximately $22.1 billion in assets under management (AUM) as of April 1. The firm has 12 roles around the globe and more than 1,650 employees.
He shared his view on cryptocurrency in an interview last week, highlight that he has finally decided that he has got to get into the game. The billionaire CEO said:
I’m doing a deep dive into crypto. I’m fully metamorphosed.
Cohen added: “I have an old saying at the poker table, you 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.”
He be prolonged, “I’m hopeful that we will be able to start building something within Point72,” adding that “we are in the change of starting to think about that.” Regarding when to get into the crypto market, Cohen opined:
The timing is not in any way good. Who knows. I don’t know if these things are going to go up.
However, the Point72 CEO is not keen on bitcoin. “Forget bitcoin,” he yelled. “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.”
Cohen above shared, “I feel like the way those markets are developing could be a real interesting adjacency to what we do at Point72,” stressing:
So, I’m not be absent from this. I’m not going to miss this. I already feel like I missed the first part of it, but I still feel liking it’s early.
The billionaire noted that cryptocurrency is an example of something he wants to “look forward and take some hazard.” He concluded: “I may look foolish initially, but you size it accordingly, learn the game, and when you’re confident, then take it to the next even.”
What do you think about Steve Cohen’s comments on crypto and bitcoin? Let us know in the comments section below.
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