Which hedge fund has quietly been buying 1 Billion dollars of cryptocurrencies

Which hedge fund has been buying over a billion dollars in crypto?

Eric Peters (chief executive officer of One River Asset Management) said in an interview he set up a new company to take the opportunity 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, he said. Mr Peters also noted he was drawn to cryptocurrency because of the volatility in financial markets. 

Who is Alan Howard?  Alan is a British billionaire hedge fund manager. Alan Howard has backed hedge fund One River Digital Asset Management in their purchase of both Bitcoin and Ethereum. Alan Howard was on the New York Federal Reserve’s investor advisory committee on financial markets and is one of a group of financial managers, who on occasion, advised New York Federal Reserve officials on economic policy.

 

On a similar topic there is another investor with One River Digital is the UK-based investment giant Ruffer LLP. Ruffer recently disclosed its 2.5%p position in Bitcoin calling it “a small but potent insurance policy against the continuing devaluation of the world’s major currencies.”

 

 

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Who is Eric Peters? Eric is the Chief executive officer of One River Asset Management. Eric leads One River Asset Management, an SEC registered investment advisor, managing capital for a number of the industry’s most highly regarded institutions. The firm identifies emerging thematic investment opportunities, constructs distinct multi asset-class hedge-fund portfolios to profit from the themes, implements those portfolios for its clients, and then actively manages the exposures. 


Clients work in collaboration with One River, utilizing this innovative capability to access precise market exposures, within a transparent, highly-liquid, cost-effective format, at a timing of their choosing. The 13 person firm’s operational infrastructure is built upon technology that is robust, flexible and highly scalable; enabling clients to construct a wide range of bespoke products to achieve their unique investment and business objectives. (Source Linkedin and Wikipedia) 

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Citigroup Inc bullish on Bitcoin

Citigroup has been reported to say that the bank has been partnering with central banks globally to build Central Bank Digital Currencies. Speaking on Friday CEO Michael Corbat  said at the Bloomberg Invest Talks ” CBDCs are the inevitable future of money”. Michael Corbat , who took over at the helm in 2012, didn’t reveal the specific governments the bank was working with.

“We’ve been working with governments around the world in terms of the creation and commercialization of sovereign digital currencies. I think it’s inevitable that they will be coming,” said CEO Michael Corbat.

What are your thoughts here are some on the topic from twitter: The central banks and governments are stimulating and markets are at all time highs, this seems to indicate that the fed and CB’s can see a problem that others cannot, otherwise why need stimulus? On a valuation basis we are at all time highs, consequently future stock returns look poor. Pretty soon Monopoly will have to issue a hyper-inflation edition of the classic board game. When a kilogram of bread will cost $50 in 10 years, you’ll be glad you chose bitcoin in 2020. There may be a wall of institutional money coming 2021.  Silver may also be the next to move due to AOC’s Green New Deal. Many are predicting a  bright future for gold silver Bitcoin and entrepreneurs.

 

 

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Craig Wright says Bitcoin was never designed to be censorship resistant

Dr Craig Wright explains that $Bitcoin was not designed to be censorship resistant, why that is the case? as well as why the nodes in a network have a hierarchical structure?

Dr Craig Steven Wright is an Australian software businessman. Dr Wright in the past publicly claimed to be the main part of the team that developed $Bitcoin, and the mysterious person behind the pseudonym Satoshi Nakamoto. These claims unfortunately are not believed by most of the cryptocurrency community base.

What appeared to initially trigger Dr. Wright’s response was a statement in the magazine that said:

In the ideal configuration, P2P networks shouldn’t have any hierarchy (all nodes are equal), and nodes should share the network load uniformly. This basic layer of a mesh of interconnected nodes is what helps Bitcoin to be censorship-resistant.

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How many Bitcoin are there?

There are twenty one million bitcoins as designed by Satochi. Bitcoin availability changes approximately every ten minutes and at the time of writing this there are approximately eighteen million available bitcoins.  

 

  • So a good question is what is the maximum amount of Bitcoin? The maximum and total amount of bitcoin that can ever exist is 21,000,000!

 

  • How many roughly are still to be mined? There are 2,500,000 bitcoins left to be mined.

 

  • What about how many bitcoins have been lost? No one knows 

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Steve Wozniak creates his own cryptocurrency called WOZX will it work?

It was a long time ago (four decades) however Steve Wozniak Apple co-founder has launched a cryptocurrency called WOZX! The purpose of the currency is to enable companies to invest in environmentally friendly projects. The company says its goal is to “democratize” the $250 billion market for energy-efficiency projects, just like Apple expanded access to personal computers.

 

“EFFORCE is proud to announce its official token listing on two leading exchanges this coming December 3rd, 2020” 

 


Steve Wozniaks new start-up, Efforce, has been designed to act as a digital marketplace that companies can use to raise funding for energy efficiency projects via a virtual token called WOZX.

Steve Wozniak is a Silicon Valley icon for the past three decades, Steve Wozniak helped shape the computing industry with his design of Apple’s first line of products the Apple I and II and influenced the popular Macintosh. In 1976, Wozniak and Steve Jobs founded Apple Computer Inc. with Wozniak’s Apple I personal computer. The following year, he introduced his Apple II personal computer, featuring a central processing unit, a keyboard, color graphics, and a floppy disk drive.

XRP enjoys gains of 186%

This year cryptocurrencies have enjoyed a wild year of gains. One to note is XRP which is up 186%. XRP is the digital currency or asset that facilitates payments on the payment platform Ripple. which provides fast and cheap international transactions worldwide.


Brad Garlinghouse the CEO of Ripple mentions the gains are driving because many govts around the world are printing more fiat currencies. With trillions of dollars of stimulus they are inflating the US dollar. Brad Garlinghouse mentions the long term value of any digital asset will come from its utility. Ripple is using an opensource digital asset XRP to solve a payment problem it is good at it because its extremely fast and extremely cheap to solve the problem.  


Bitcoin will remain an important player however more currencies are showing continued disruption.  Bitcoin for many is seen as a good entry point for people entering the cryptocurrency market. 


Brad Garlinghouse mentions that the US is out of step with other countries when it comes to regulation. 

What is the DCEA? It is the Digital commodity exchange act.  This is the act that will provide building blocks clarity and certainty for companies to confidently build blockchain companies. Brad Garlinghouse mentions this will help make public cryptocurrencies. What does an ideal regulatory framework look like? 

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Indices like S & P Dow Jones will start to monitor top cryptocurrencies

Earlier on this week S&P Dow Jones Indices indicated that such indexes will start to measure the performance of the 500+ most traded cryptocurrencies by market cap, top cryptos would obviously be include Bitcoin. Research indicates this will include more than 500+ of the most frequently traded coins and tokens which will be included to be included in the indexes.

 

According to the statement issued by both companies, S&P’s clients could create customized indexes, among other benchmarking tools on cryptocurrencies. 

 

“With digital assets such as cryptocurrencies becoming a rapidly emerging asset class, the time is right for independent, reliable, and user-friendly benchmarks.” mentioned Peter Roffman, who is the global head of Innovation and Strategy at S&P Dow Jones Indices.

Its interesting to note that it looks like cryptocurrencies may very well achieve the status of “mainstream investments” with the indexes’ launching in 2021.This has also been noted with large firms  such as JP Morgan, who has been showing a new view towards Bitcoin, shifting to a bullish view in the medium and long-term. 


Other large firms such as PAYPAL have been taking significant steps to adopt cryptocurrencies within their portfolio, as they announced in October. During an earnings call held on November 2, 2020, PayPal’s CEO Dan Schulman revealed plans such as increased crypto-asset purchasing limits.

Did you know that Microstrategy just purchased 2574 more Bitcoins that means they have roughly 40824!

MicroStrategy, a company which provides business intelligence, mobile software, and cloud-based services has just made another big Bitcoin purchase. News just in MicroStrategy have purchased 2,574 bitcoins for $50.0 million in cash bringing the technology company’s treasury holdings to approximately 40,824 bitcoins. That is an huge amount of Bitcoin to have invested in.

 

It is understood that cryptocurrency exchange Coinbase was the exchange that brokered MicroStrategy’s original bitcoin purchases, as CoinDesk previously reported.

 

Imagine storing those on a ledger! I wonder how they store them? Back in November MicroStrategy executives were  on the hunt for blockchain experts who could help the publicly traded firm build a suite of bitcoin data services.

 

In a recent interview Saylor explained “I know for a fact you can’t buy more than $35 million a day without people knowing, so there’s no freaking way there’s $24 billion trading,”

Have you ever wondered what is HODL?

You see the acronym HODL everywhere on forums and on twitter but what are the origins and what does it stand for? 


So today we are talking about cryptocurrency slang.  Another interesting point is how in the world would you pronounce it! Lucky enough most people dealing in cryptocurrency are keyboard bound rather than discussing it at the kitchen table (I could be wrong there).


Early research indicates it started when someone on a bitcoin forum made a spelling mistake for “HOLD” which makes sense because that can be an easy error to do. 


More research indicates that it stands for Hold On For Deal Life however I am not too sure about that as because that would be HOFDL. In any case the meaning is the same just hold your tokens or coins. 


Hold

On

For 

Dear 
Life


Do you have a suggestion as to what it could stand for? Comment below with some funny ones!

So at the end of the day if the coin or token is headed south from a price point. Many bullish cryptocurrency folks will post in forums saying Hang on Hold on there are better days ahead. 


On the back of the creation of this funny term comes “Hodler”  A person who is holding for better later times is known as a Hodler another funny word. So if you are a Hodler you are one that holds on no matter what in times your coin or token is tanking. Hodler can also be typed as HODL’er just to confuse you more.