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From Skeptic to Fan, Hedge Fund Billionaire Expresses His Feelings About Crypto

Wed, 09/15/2021 - 12:01
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Arman Shirinyan
Billionaire has changed his mind about the industry thanks to his son
From Skeptic to Fan, Hedge Fund Billionaire Expresses His Feelings About Crypto
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Former crypto skeptic and hedge fund billionaire Steve Cohen keeps changing his mind about cryptocurrencies and the industry in the general. According to the discussion he had with Skybridge Capital founder Anthony Scaramucci, his son—whom he called a "cryptomaniaс"—helped him to change his mind about digital assets.

The billionaire was just looking forward to getting more familiar with the industry and educating himself. Cohen found out that there are opportunities in the industry as there were in the early internet. In order to maximize his potential profits, he decided to enter crypto and not let it pass him by.

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According to Bloomberg, Cohen, with a net worth of $11.1 billion, has thrown himself into the world of crypto both personally and as a legal entity.

Earlier this week, Cohen announced that he is investing in Radkl, a quantitative digital assets trading company. Additionally, he invested in Recur, a company that aims at developing solutions for buying and selling non-fungible tokens. In his dialogue with Scaramucci, he also said that Point72 is working on creating a crypto-trading solution at the firm.

In addition to digital assets, Cohen is also interested in investing in companies that work with the metaverses.

There's some far-out ideas out there, about how people are going to spend their time.

The metaverse concept quite often correlates with the digital assets industry, which can be implemented in it as a payment tool. In addition to transactions, avatars that are being used inside of the virtual realm can be tied to non-fungible tokens.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.