The head of the hedge fund One River Asset Management, Eric Peter, said that by the beginning of 2021 the company plans to increase the volumeof their cryptocurrency assets up to $ 1 billion.
One River Asset Management Hedge Fund in partnership withCo-founder of Brevan Howard Asset Management, billionaire Alan Howard, acquired over $ 600 million worth of cryptocurrency, writes Bloomberg. The One River Digital Asset Management Fund, launched in October specifically for investments in cryptocurrencies, plans to increase the volume of assets in bitcoins and ethers to $ 1 billion by the beginning of 2021.
The company bought cryptocurrency in November, notattracting everyone's attention so as not to provoke a sharp rise in the bitcoin rate. Coins were bought for less than $ 16 thousand for one bitcoin. On December 17, the cryptocurrency rate reached $ 23.8 thousand, as of 15:20 Moscow time, bitcoin is trading at $ 22.7 thousand.
As One River Tools AdministratorDigital Asset Management will act as Northern Trust, crypto exchange Coinbase from the United States will handle transactions and act as a custodian partner. The head of the hedge fund, Eric Peter, stressed that the cryptocurrency market is more risky than gold, but it also offers higher returns.
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