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
France Crypto Crime: Couple Held at Knifepoint and Forced to Transfer Nearly $1M in Bitcoin
Armed criminals posing as police officers forced a French couple to transfer roughly $980,000 worth of bitcoin during a violent home invasion on Monday in Chesnay, France, in what authorities say is part of a growing wave of crypto-linked kidnappings across the country.
France Investigates €900K
Coinpedia15m ago
Why Bitcoin Is on a Path to $1 Million Per Coin: Bitwise
In brief
Bitwise CIO Matt Hougan thinks Bitcoin can get to a price of $1 million as the broader store of value market cap grows.
The top crypto asset would need to jump more than 14x in order to reach the mark.
Declining volatility, ETF inflows, and institutional acceptance will help
Decrypt25m ago
BTC breaks through $70,000, with a 24-hour increase of 1.6%
Gate News Report, March 10 — According to data from a certain CEX, BTC broke through 70,000 USDT, currently trading at 70,007.5 USDT, with a 24-hour increase of 1.6%.
GateNews1h ago
