Billionaire Investor Steven Cohen Place his Money in Cryptocurrency Hedge Fund

The billionaire investor Steven Cohen has decided to invest in a cryptocurrency hedge fund that is also focused in blockchain companies. According to Bloomberg, the decision has been made through Cohen private Ventures.

Steven Cohen Invests in Virtual Currency and Blockchain Hedge Fund

The hedge fund is known as Autonomous Partners and started its operations the last year. The company is run by Arianna Simpson, an important advocate of cryptocurrencies. Some important firms have invested in this hedge fund, including Union Square Ventures, Brian Armstrong, and Craft Ventures Co-Founder David Sacks. 

At the same time, Simpson explained hat she is interested in investing in cryptocurrencies that serve as general purpose money. Moreover, other businesses that are working with the next generation of financial infrastructure are also interesting for them. For example, at the moment, the hedge fund Autonomous Partners is investing in large capitalization virtual currencies like Ethereum (ETH) and Bitcoin (BTC).

Cohen Private Ventures is also investing in private equity and other investments for the long term and on behalf of Cohen.

Due to the crypto bull run experienced during the last year, the interest in virtual currencies grew exponentially. Of the 249 crypto hedge funds operating, 70 did so last year, as Autonomous Research comments.

During this year, cryptocurrencies lost an important part of their market. Indeed, most of the virtual currencies reached an all time high in January (Bitcoin did so at the end of 2017), and then, they lost between 60 and 80 percent of their value.

But some investment companies have been increasingly paying attention to the market. The main intention behind it is to enter now that the market is down and wait for a new bull run that could start in the near future.

At the moment of writing this article, most of the virtual currencies are operating positively compared to 24 hours ago. Investors and the market is waiting for an important positive event to happen and help the prices go up again as it happened in the past.

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