$10 Billion Hedge Fund Evaluating Bitcoin Exposure

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

Wed, 05/12/2021 - 17:05

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.

Billionaire Hedge Fund Manager Bill Ackman Says Crypto Has No Intrinsic Value

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.

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

About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.

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