Banks and traditional asset managers used to stay away from Bitcoin and other cryptocurrencies, fearing for their reputation and scared of lack of regulation and wild volatility. However, the recent performance proved that Bitcoin should not be ignored.
Crypto Funds Returned 6% More than Traditional Hedge Funds
A recent survey carried out by Eurekahedge found that dedicated crypto funds returned over 16% last year. Elsewhere, Hedge Fund Research (HFR) said that traditional hedge fund strategies returned 10.4% for the same period.
Galaxy Digital’s asset management boss Steve Kurz told the Financial Times (FT):
Bitcoin has a higher return on a one, three and 10-year basis than any other asset class. When the returns are so high, investors will have to pile in.
So far, no major bank has developed a specialized desk to trade Bitcoin…
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