$10 Billion Hedge Fund Evaluating Bitcoin Exposure

News

By Alex Dovbnya

Wed, 12/05/2021 - 17:05

Dmitry Balyasny's $10 billion hedge fund is mulling over a Bitcoin bet

$10 Billion Hedge Fund Evaluating Bitcoin Exposure

Balyasny Asset Management, a multi-strategy investment firm created by former day trader Dmitry Balyasny, is exploring a Bitcoin bet, according to a report by The Street.

The Chicago-based hedge fund firm has over $10 billion worth of assets under management.

Wed, 05/12/2021 - 14:59

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After its disastrous performance in 2018, which was the first down year for Balyasny, the firm managed to weather the pandemic-induced crash in 2020 because of its diversified portfolio.

The report says that the hedge fund is currently doing due diligence on Bitcoin and other digital assets.

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Bitcoin is currently changing hands at $55,155 on the Bitstamp exchange.

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