The Eurekahedge Cryptocurrency Hedge Fund Index returned 238.4% for the first eight months of this year, significantly outperforming bitcoin's 163.35% return for the period. Last year, cryptocurrencies were clearly the market's best-forming asset as bitcoin returned 300.17% for the year.
Q3 2021 hedge fund letters, conferences and more
Bitcoin As A Safe Haven
Eurekahedge, part of HFM, said bitcoin surprisingly benefited from the COVID pandemic. The firm believes investors saw it as a safe-haven asset and an alternative to gold and other safe havens during the broad uncertainties sweeping the market last year.
"More and more traditional investors look at bitcoin as a digital version of gold and an emerging store of...
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