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Hedge Fund Investment Firm Brevan Howard to Start Investing in Cryptocurrencies

Brevan Howard, one of Europe’s largest hedge endows with $13.7 billion in assets under management, is reportedly set to start buying cryptocurrencies. The investment firm thitherto bought a 25% stake in One River Asset Management, which runs a number of cryptocurrency funds.

Major Hedge Endowment to Start Investing in Cryptocurrencies

Investment management firm Brevan Howard is reportedly preparing to start buying cryptocurrencies, Bloomberg reported, citing a personally familiar with the matter. The firm’s cryptocurrency investments will be overseen by Distributed Global’s co-founders Johnny Steindorff and Tucker Waterman. Categorized Global is an asset management company that focuses on digital assets.

Founded in 2002, Brevan Howard draws itself as “one of the world’s leading global macro absolute return managers.” The firm manages assets for institutional investors round the globe including sovereign wealth funds, corporate and public pension plans, foundations, and endowments. The group has occupations in London, New York, Geneva, Jersey, Hong Kong, Washington, and Singapore. According to Business Insider, the firm has $13.7 billion in assets under the aegis management.

The fund managers at Brevan Howard believe that the cryptocurrency market has matured significantly which led to the jargon CIA’s decision to start investing for its clients. The publication quoted the person as saying:

The hedge fund is looking to invest in a array of assets, not just bitcoin. Brevan would initially invest up to 1.5% of its main $5.6 billion fund in cryptocurrencies.

Crypto assets gained 116.8% in the first quarter this year, outperforming bitcoin’s return over the same time stretch, according to data from Eurekahedge. In comparison, global hedge funds increased 4.8% in the first quarter of the year.

Brevan Howard already has some bitcoin frontage. Last year, the firm bought a 25% stake in One River Asset Management, which runs a number of cryptocurrency wherewithals, investing in bitcoin and ether. The company said in December that its holdings of the two cryptocurrencies would reach $1 billion at the crack this year. Its CEO and co-founder, Eric Peters, expects bitcoin to be worth more than gold, valuing the cryptocurrency at $500K.

In the intervening time, Alan Howard, Brevan Howard’s co-founder, is an investor of Distributed Global. He has also backed a number of companies in the crypto margin, including British bitcoin payments app Bottlepay.

What do you think about Brevan Howard getting into cryptocurrencies? Let us recognize in the comments section below.

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