Amid the peak of crypto’s 2017 rally, Travis Kling, a portfolio manager at Steven A. Cohen’s Point72 Asset Management, jumped ship from his institutional tenure, subsequently downing the red pill that is Bitcoin. And while Bitcoin (BTC) has sold-off massively since his initial foray, Kling has maintained that he sees long-term potential in cryptocurrency and technologies pertaining to this budding asset class.
Bitcoin (BTC-USD) retreated once again Monday to kick off a fresh week of losses after the cryptocurrency suffered its biggest weekly decline since January.
Bitcoin, along with other major cryptocurrencies ripple (XRP), ethereum, bitcoin cash, stellar, and litecoin, have fallen again over the last 24 hours as investors and traders fret over a flood of warnings on the future of cryptocurrencies.
Bitcoin’s no longer boring.
After months of tranquility that became the envy of equity investors, The biggest cryptocurrency roared back into the public consciousness this week with the biggest sell-off since August, another fork and a cameo in a major semiconductor earnings report. Some digital asset industry pundits have already begun referring to it as the crypto winter.
Hedge funds aren’t giving up on cryptocurrencies just yet.
Bitcoin tumbled below $6,000 for the first time since August and reached its lowest level in over a year, breaking the recent stretch of tranquility exhibited by the notoriously volatile digital alternative to cash.
Ikigai Asset Management, the long/short multi-strategy cryptoasset hedge fund launched by former Point72 Portfolio Manager, Travis Kling, announced today the addition of three new executive hires. Christina Martin, of Plutos Capital Group, has joined as Partner. Daniel Heller of BitLumens and Oliver Zahn of Google have joined as Advisors.
In this episode of Cheddar's The Crypto Craze, Brad Smith and Nora Ali explore the factors driving the massive sell-off of cryptocurrency this week and speak with investors Travis Kling and Arjun Balaji to get their takes. Tanaya Macheel goes inside Consensys to learn about how the company is strengthening the Ethereum network by empowering entrepreneurs and developers. Plus, IBM Blockchain Global Vice President Jesse Lund shares his outlook for the technology.
I’m not a techie. I’ve never been the early adopter type. I don’t have an Apple watch and Alexa scares me. So when I first started reading about Bitcoin in 2013, when the Silk Road marketplace blew up, it was solely due to my own fascination with the absurdity of it all—“look at these crazy drug dealers that made up this magic Internet money so they could buy drugs!” A few months later when hackers plundered Mt. Gox, then the major Bitcoin exchange, I took it as confirmation that this area was not something to take seriously.