Connect with us

Bitcoin News

One River Receiving An ‘Astounding’ Number of Inquiries for Bitcoin from ‘Big Credible Institutions’



One River Receiving An ‘Astounding’ Number of Inquiries for Bitcoin from ‘Big Credible Institutions’

The hedge fund with $1 billion in digital assets is “overwhelmed” with the response from “huge institutions.”

A storm of investors is coming, and it is coming in full swing, especially now that Bridgewater Associates founder, Ray Dalio, has made his positive case for Bitcoin.

This is evident from the “astounding” number of inquiries the firms that provide digital asset services are getting.

The cavalry of institutional investors is coming, and it is happening “enormously,” according to One River Asset Management chief executive officer Eric Peters. Peter bought over $600 million of cryptocurrencies last year. The hedge fund now has more than $1 billion in digital assets.

“What’s happening is, almost every big credible institution in the U.S. is having discussions about this,” Peters added these are “huge institutions” where you have 10 to 15 people in discussion – the entire investment committee.

“They’re fascinated by this thing,” he said, which they should be, “because this is the first and last asset class that will appear in our lifetime. And so if you’re a large institutional investor, the first natural place to get exposure is the beta.”

All of this crazy amount of activity happening right now means the digital asset class will mature in a decade from now, said Peters. “The number of institutions that have been filling my day with calls and inquiries about this is astounding,” he said in an interview with Bloomberg.

But this is just the beginning because there are all kinds of opportunities in this asset class, said Peters. As they start learning, they would allocate some portion of their portfolio to these assets, but “they’re literally going to take years, and they’ll start small, and they’ll increase in size over the next decade.”

Overall, One River is “overwhelmed” with the response right now, which makes it “virtually impossible to imagine that you have this level of interest and you don’t have allocations.”

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Recent Posts

Copyright © 2019 The Crypto Report