Another big hedge fund has joined in to invest in Bitcoin. Third Point, owned by Daniel Loeb, has confirmed that it’s holding BTC with Coinbase. This news was confirmed by the official documents of Coinbase and showed that all of the five funds of Third Point hold cryptocurrency. It is highly probable that the asset they invested in is Bitcoin and maybe Ethereum because even a Twitter user POMP shared the same thing.
BREAKING: @DanielSLoeb1 and Third Point have revealed that they are holding Bitcoin.
Third Point is a $17 billion hedge fund.
Bitcoin is inevitable.
— Pomp 🌪 (@APompliano) April 9, 2021
Third Point is now invested in crypto.
Coinbase is about to go public real soon, and it is revealing some of its big client names now. It also said that over $122 billion in institutional assets are stored by them. This shows that Coinbase has a lot to do with the big companies betting on crypto’s future. Talking about the Third point, it is really flexible about its crypto investment plans. They are open to investing in crypto directly, through contracts, or in other ways. And they are even open to staking and join the lending game in the crypto world.
The fund might have joined the crypto industry back in March when Daniel S. Loeb tweeted about the same. He tweeted, “I’ve been doing a deep dive into crypto lately.” Being very focal about the newly formed interest was a great thing for the fund, and bought it to the limelight.
Reports suggest that this is the first major company that has been staking in cryptocurrency. This is allowing them to not only earn from the price appreciation of the token but the staking gains. It is good to see that hedge funds, investors, and companies are exploring all forms of crypto investments. If you don’t know what staking is, let us know in the comments below, I will try to do a simple and detailed article on the same.
BTC to the moon!
Yeah, it just smashed right through the $60k price point. And we can expect such price hikes even in the future. If such investments continue, the only thing that is going to rise is Bitcoin’s price and the disappointment of people investing in gold.
What do you think about the recent indulgence of Third Point in crypto? And do you think that we will see more hedge funds joining in on the gains? Let us know in the comments below. Also, if you found our content informative, do like it and share it with your friends.
Also Read: Why could Gold do better than Bitcoin in the long run?
