Article Image
IPFS News Link • Bitcoin

Giant "Bitcoin Whale" Emerges With Transformational $1 Billion Stake..

•, Tyler Durden

According to Bloomberg's Erik Shatzker, a hedge fund specializing in volatility bets - one which regular Zero Hedge readers are very familiar with - has emerged as one of the largest investors in Bitcoin after quietly buying more than $600 million in cryptocurrencies in recent months and joining forces with legendary trader Alan Howard, co-founder of Brevan Howard Asset Management.

Echoing what we have said repeatedly in recent months, namely that the next leg higher in bitcoin will come on the back not of continued retail chasing but due to institutional rotation into the cryptocurrency (for another example of this, see "169-Year-Old Mass Mutual Buys $100 Million In Bitcoin"), Eric Peters, CEO of One River Asset Management, told Bloomberg he set up a new company to seize on the growing interest in cryptocurrencies among institutional investors. In addition to its initial purchases, One River Digital Asset Management has commitments that will bring its holdings of Bitcoin and Ether to about $1 billion as of early 2021.