US hedge funds own 10.6% of crypto assets in 5 years
North American hedge funds are expected to be at the forefront of cryptocurrency investors over the next five years.
According to a survey published by the Coin Telegraph website, which specializes in cryptocurrency.
A report said that while EU and UK funds are not far behind, they expect to hold about 6.8% of their assets in crypto assets within five years.
A new survey of 100 senior financial officials of hedge funds around the world indicated that the sector plans to significantly increase its exposure to crypto assets in the near term.
Noting that the value of crypto assets held by global hedge funds is expected to reach about $312 billion.
He explained that US-based funds are more optimistic about the new asset class, expecting to increase their portfolio exposure to crypto to 10.6% on average within five years.
Prominent hedge fund managers such as Paul Tudor Jones have been Bitcoin advocates amid concerns about inflationary tendencies in the economy.
SkyBridge Capital CEO Anthony Scaramucci takes a similar view of Bitcoin's potential as a store of value, arguing that it is superior to gold.
Another big name in the sector supporting cryptocurrency is Alan Howard who has invested in two digital asset startups after his previous investment as a digital asset custody service provider.
Although he owns a 25% stake in One River Digital Asset Management, there are reports revealing Brevan Howard's plans to invest directly in cryptocurrency.
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