Sumary of Billionaire hedge fund managers Cohen, Dalio tout cryptocurrencies:
- Article content NEW YORK — Billionaire investors Steven Cohen and Ray Dalio have joined the cryptocurrency craze by putting cash to work and saying at a conference this week that bitcoin and other digital currencies are an interesting way to diversify their holdings.
- ” Cohen, who runs Point72 Asset Management, said earlier this week at the conference that he hopes not to miss out on opportunities presented by the digital currencies.
- Cohen meanwhile has been studying cryptocurrencies for himself and potentially his firm for some time and told investors in May that he would be “remiss” to ignore the $2 trillion cryptocurrency market.
- Article content This week, Cohen announced he was investing in Radkl, a digital asset investment and proprietary trading firm, and he told the conference that his firm, Point72, is building crypto-trading capabilities.
- The Cohen and Dalio appearances were among the event’s best-attended sessions, with fund managers and investors eager to hear how billionaires viewed topics ranging from China relations to working remotely versus in the office.
- Dalio said China could be viewed as an existential threat to the United States, adding it is imperative to have more contact there, not less, to gain a better understanding of how the government operates.