Bloomberg: Billionaire Steven Cohen Backs Crypto, Blockchain Hedge Fund

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When Bitcoin, the first cryptocurrency, was initially launched, the world was not too keen on the idea of a digital currency holding monetary value. Today, however, a single Bitcoin is valued over $6,000. In 2017, the value of Bitcoin reached over $19,000. Bitcoin, however, is not the only cryptocurrency anymore and the technology that this cryptocurrency is built upon, known as blockchain, is now used for much more than cryptocurrencies. Companies are implementing blockchain technologies to help make the storage of data decentralized and secure, but, at the same time, easier to access than ever before. A recent report published on Bloomberg has suggested that billionaire Steven Cohen decided to invest in a blockchain hedge fund. No confirmed data has yet been released, but the reported claimed that the source was certain about their facts. 

Steven Cohen Invests In Autonomous Partners

Arianna Simpson founded the Autonomous Partners blockchain hedge in December 2017, suggesting that the fund was developed to support the impact that blockchain technologies will have in the future of the world – particularly the financial infrastructure. 

The founding of Autonomous Partners has come as no surprise, as blockchain technologies are being implemented in various ways. The financial industry is not the only to be taking advantage of cryptocurrencies and the numerous opportunities that blockchain technology offers – the medical sector, entertainment niche, and many other industries have also seen companies developing applications and services using blockchain. 

Steven Cohen, the well-known billionaire, and Point72 Asset Management’s founder has recently taken notice of blockchain, with a report claiming that this billionaire has decided to invest in the Autonomous Partners hedge fund. 

Specific details about this move from Steven Cohen has not yet been revealed. Steven Cohen and the head of Point72 Asset Management, Andrew B. Cohen, has not however provided any type of public statement to provide proof of this move from their side. At the moment, the only data that is available came from an unknown source, who provided details of this transaction to a reporter over at Bloomberg. 

More details will be revealed soon

Further details about this investment in Autonomous Partners will likely leak out over the next few days, and we may even see public announcements from the staff over at Point72 Asset Management as well. 

Steven Cohen is not the first to take notice of Autonomous Partners and invest in Blockchain hedge fund. A number of famous faces have also taken an interest and invested in helping this hedge fund reach its goal of boosting existing cryptocurrencies and allowing for the implementation of a decentralized business and financial world to become a reality.

Some other notable investors that have also invested in Autonomous Partners include David Sacks, the former COO of PayPal and the co-founder Craft Ventures, as well as Brian Armstrong, the CEO of Coinbase. Additionally, recent reports from Arianna Simpson, founder of this hedge fund, have suggested that Union Square Ventures have also invested in this Blockchain Hedge Fund. 

Autonomous Partners will continue to invest in cryptocurrencies and blockchain companies that seems to have potential in driving the future of these technologies but, at the same time, have also set aside a percentage of their fund for Ethereum and Bitcoin. 

Even though it seems like the value of cryptocurrencies have stated to plummet this year, investors seem to be confident about the usefulness that blockchain technology and future cryptocurrencies may hold for the future of the financial infrastructure. Steven Cohen’s recent investment has backed up the possible benefits of blockchain and cryptocurrencies in our future. 

Amna El Tawil is an experienced journalist with a strong background in financial writing. She is a cryptocurrency enthusiast and has been writing about digital currencies since 2016. When not writing, Amna can probably be found in bed with a book cuddling with her beloved Siberian Husky.

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