Bitcoin Price Increase Due to the highly investment involve in the Market By:
Steven Cohen invests in crypto hedge fund
Billionaire Steven Cohen, the founder of Point72 Asset Management, is reportedly getting on the bitcoin bandwagon with an investment in crypto hedge fund Autonomous Partners.
Cohen would be investing in the crypto hedge fund through his private investment vehicle, Cohen Private Ventures, it was reported by Fortune last week.
The bitcoin price has just jumped over the $7,000 mark for the first time in over a month following an incredible week for bitcoin developments.
As a result of the near $600 price jump, bitcoin added some $9 billion to its market cap in a matter of minutes.
The world’s biggest asset manager BlackRock has set up a working group to investigate ways it can take advantage of the fast-growing bitcoin and cryptocurrency market.
FSB backs bitcoin
International financial watchdog, the Financial Stability Board (FSB), yesterday released a report that found bitcoin and cryptocurrencies do not currently pose a material risk to the global financial system.
According to a report published by the watchdog, cryptocurrencies “do not pose a material risk to global financial stability at this time.”
Meanwhile, the FSB — which has members from the G20 major economies, the European Commission — said it planned to monitor cryptocurrency assets at banks and the world’s largest financial systems.