Hedge fund giant Renaissance Technologies, which manages about $166 billion in regulatory assets, is ready to venture into Bitcoin (BTC) futures.
In a new filing with the US Securities and Exchange Commission, Renaissance reveals it has green-lighted its $10-billion flagship Medallion fund to enter the Bitcoin futures market.
The Long Island-based firm acknowledges the risks that come with investing in Bitcoin, describing the king coin as a relatively new and speculative asset due to its limited history, decentralized system, lack of recognition as a legal tender and its potential to power fraudulent transactions.
“Investment results may vary substantially over time. These instruments involve substantially more risk and potential for loss relative to more conventional financial instruments.
Investments of this type should be considered substantially more speculative and significantly more likely to result in a total loss of capital than many other investments.”
— Citește pe dailyhodl.com/2020/04/19/166000000000-hedge-fund-giant-considering-bitcoin-btc-futures-entry/