The number of cryptocurrency hedge funds explodes. Last updated 08/08/2017
“Bitcoin's meteoric rise is costing some investors billions” claimed a recent Business Insider article, citing data provided by the financial analytics firm S3 Partners.
According to S3, investors betting against the shares of Nvidia and Advanced Micro Devices, which make chips used to mine bitcoin, have lost a combined $1.8 billion this year. Carlson Capital's $1 billion Black Diamond Thematic fund is one of the funds that has reported significant losses thanks to bitcoin. According to Business Insider’s report, the fund lost 14.2% through July, and blamed bitcoin for this hit.
However, while some hedge funds are suffering from betting against bitcoin, bitcoin-focused hedge funds are knocking it out the park as...
Login required to continue reading.
Setup a free account to get access to this article (no credit card required).
View Full Article
