A Hedge Fund Worth Over $17 Billion Is Holding BTC With Coinbase

Third Point Management, a hedge fund which is based in New York, is the most recent multibillion-dollar company to reveal that it has got its hands deep in the crypto-asset industry. According to the most recent filings of the company with the Securities and Exchange Commission of the United States, it is currently holding a massive amount of crypto assets on Coinbase.

Third Point Management and its $17 Billion Crypto Hedge Fund

The Third Point Management company was founded by Daniel Loeb, a billionaire investor. The firm is currently holding crypto assets by utilizing five of their investment funds, storing them in Coinbase, as stated by the regulatory reports filed by Third Point Management to the Securities and Exchange Commission of the United States. However, the reports have not revealed how much of the total investment is related to crypto assets, which coins and tokens the company has invested in, and for how long the company has been holding them.

A tweet was posted which stated that Daniel Loeb and Third Point Management have revealed that they have invested in Bitcoin, and it also stated that the firm is a $17 billion hedge fund. The post was concluded by saying that Bitcoin is inevitable, which means that the investors and the mass public do have their hopes high for the success of Bitcoin in the future.

The document filed by Third Point Management also revealed that the firm has been investing in crypto assets both directly and indirectly and is even considering staking. The details say that the investment accounts acquire virtual or crypto-assets and their other derivatives. The transactions made by these investment accounts are mostly active direct investments, indirect investments which involve derivative contracts related to crypto-assets and other income, which is generated by activities like lending and staking.

Daniel Loeb is the Most Recent Billionaire Interested in Bitcoin

The documents filed with the SEC by Third Point came to light after Daniel Loeb publicly expressed his interest in crypto assets. He said that he has recently been analyzing crypto assets very deeply, and it is a new opportunity that may be the future of investments. He said that it is okay to question crypto, but everyone should learn about it.