The Brevan Howard Master Fund, the main hedge fund of $20 billion asset management company Brevan Howard, will start buying cryptocurrencies, Bloomberg reports.
The hedge fund will reportedly invest 1.6 percent of its $5.6 billion money pool, and Bitcoin is not the only cryptocurrency on its radar.
The fact that the Jersey-based company is moving into crypto is not surprising. As reported by U.Today, Alan Howard, the co-founder of Brevan Howard, is an investor in volatility-focused hedge fund One River Asset Management that currently owns over $1 billion worth of Bitcoin and Ethereum.
The British billionaire also led the $25 million Series A funding round of cryptocurrency custodian Komainu that was announced last March.
On top of that, Howard is one of the largest shareholders of European digital asset manager CoinShares.