Odaily Planet Daily reports that Mike Novogratz’s cryptocurrency group Galaxy plans to launch a $100 million hedge fund in the first quarter of this year. The fund has already received $100 million in investments from family offices, high-net-worth individuals, and large institutions, aiming to profit from digital asset price fluctuations.
The fund will invest up to 30% of its assets in cryptocurrencies, with the remaining portion invested in financial services stocks influenced by digital asset technology and legal factors. Galaxy stated that it will provide seed funding for the fund. Currently, Galaxy manages $17 billion in digital assets. Joe Armao, head of the hedge fund, said that the fund can profit from selecting disruptors and superior enterprises in the financial services sector. Currently, Bitcoin is priced at approximately $90,000. (FT)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Nearing Undervalued Territory? CryptoQuant Flags Key On-Chain Signal
CryptoQuant sparked fresh debate in markets this week after posting a short-but-sharp take on a once-obscure on-chain gauge: the one-week-to-one-month holding ratio. The firm pointed out that this ratio, a measure of how much Bitcoin is being held for very short windows versus slightly longer
BlockChainReporter29m ago
Analysts: March CPI print already baked into BTC price
The February CPI data came in broadly as anticipated, reinforcing that higher inflation remains a factor but not a surprise driver for markets. Analysts at 21Shares argued that the macro picture had already priced in the March print, shifting attention to how the Federal Reserve would respond. The
CryptoBreaking38m ago
Strategy’s Bitcoin-Backed STRC Outperforms Tech Stocks on Risk-Adjusted Returns
Strategy Inc.’s bitcoin-backed preferred equity STRC crossed a notable milestone this week after Chairman Michael Saylor announced the instrument had delivered one of the strongest risk-adjusted performance metrics in the market.
Saylor Promotes STRC as Digital Credit With Sharpe Ratio Over 3
Str
Coinpedia1h ago
