Steve Cohen’s Point72 Asset Management is eyeing cryptocurrency-related investments.

“We are exploring opportunities around blockchain technology and its transformative and disruptive capabilities,” the firm said in a letter to investors seen by Bloomberg. “We would be remiss to ignore a now $2 trillion crypto currency market.”

The letter came after a report Thursday from cryptocurrency-focused website The Block, which said Point72 was poised to make a sizable move in the space.

The firm may make the investments under its Point72 Private Investments unit or its hedge fund, and will examine “liquidity, risk, and return profiles,” according to the letter.

“It’s too early to say what paths we will ultimately pursue and when,” the letter said. “We look forward to updating you when we have concrete plans on how we expect to approach this market.”

A spokeswoman for the firm declined to comment.

(Excerpt) Read more Here | 2021-05-13 13:24:38
Image credit: source

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.