• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews
Bitcoinist.com
No Result
View All Result
Hedge fund
Nexo

Bitcoin Interest Soars in the World’s Hedge Fund Capital

Allen Scott by Allen Scott
6 years ago
in Bitcoin, Markets and Prices, News, News teaser
0
Advertisement

Interest in “Bitcoin” according to Google search data shows that the the world’s hedge fund capital tops all other places in the Tri-State area.


Hedge Funds Paying Attention

The latest stats from Google trends reveal that most of the interest in Bitcoin for the Tri-State area (NY, NJ, CT)  is coming from the greater Greenwich area of Connecticut.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

123

While the global uptick in Bitcoin interest was already covered, it appears to be in an upswing particularly in regions commonly associated with hedge funds and Wall Street. For instance, number two Hoboken, New Jersey is also home to many people from Wall Street given its proximity to Manhattan with Stamford and Bridgewater also in the mix.

“On the global scale, the greater Greenwich hedge fund zone, which includes Westport, Norwalk and Stamford — where the likes of Greenwich resident Steven A. Cohen and Darien’s Richard Chilton set up their hedge funds — comes in at No. 3 as New York and London breeze past the region.” explains the founder and president of the Connecticut Hedge Fund Association Bruce McGuire.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

Really what is meant when people say Greenwich, or Connecticut, is the hedge fund capital is a density rating.

The so-called “smart money” appears to be taking notice as Bitcoin has been the best performing currency for the past six out of seven years. So it’s likely greed—and not coincidence—that an area with the greatest density of hedge funds, and a high percentage of the wealthy in general, is looking at Bitcoin.

hedge

What is the best crypto casino in July 2022? Read our comprehensive comparison! We made deposits, played and reviewed 80+ crypto casinos to choose the best one.

In fact, eight of the top ten largest hedge funds in the world reside in either Connecticut or New York, according to Wikipedia.

“Right now, Connecticut is No. 2 in the U.S., when you’re looking at the assets under management. With about $350 billion in assets in the state, we’re second to New York City,” McGuire adds.

Greed Will Drive Interest in Bitcoin

By definition, “hedge funds are alternative investments using pooled funds that employ numerous different strategies to earn active return, or alpha, for their investors.” They’re also typically set up as private investment limited partnerships, are only accessible to a limited number of accredited investors, and require a large initial minimum investment.

shutterstock_549430663

But the halcyon days of hedge funds seem to be behind us. In fact, big hedge funds have gotten slaughtered in 2016. One striking example is the Senfina hedge fund, which was shut down by Blackstone after losing 24% in 2016 alone.

“The market environment in 2016 for long/short hedge funds was unprecedented,” Paula Chirhart, a spokeswoman for Blackstone, told Bloomberg. “We did what was in the best interest of our investors to preserve their capital.”

Moreover, hedge funds have underperformed both the S&P and Bond Indexes every year since the financial crash of 2008.

hedge-funds-performance

Let’s now compare this to Bitcoin’s track-record:

cyjmyveuoaaqhz3

Therefore, it may be a no-brainer for prudent hedge fund managers to not only skip the latest Ferrari this year, but also look at this promising new asset class (i.e. Bitcoin) in an attempt to turn the ship around.

Indeed, the cryptocurrency Bitcoin being increasingly mentioned alongside Gold as a “portfolio staple” as Bitcoin nears parity with the world’s most popular precious metal.

Additionally, with the rise of Bitcoin-related financial instruments such as IRAs and ETFs, including GBTC and the much-anticipated Winklevoss twins’ COIN, investing in Bitcoin will undoubtedly become much easier for traditional investors with time. 

So will so-called ‘smart money’ flock to Bitcoin next?

Some experts certainly think so as Bitcoin continues to prove the naysayers wrong with every “near-death” experience. But if Bitcoin keeps up its stellar performance, it will surely become irresistible to traditional investors who are looking for the next big thing.

Will hedge funds beginning flocking to Bitcoin in the future? Share your thoughts below!


Images courtesy of Shutterstock, Wall Street Journal, Wikipedia, Google Trends, Pantera Capital

ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Allen Scott

Allen Scott

Allen is the editor-in-chief at Bitcoinist.com. He has a background in journalism and economics and had his Bitcoin "Aha!" moment in 2013. He has interviewed some of the most prominent experts, entrepreneurs and thought-leaders within the cryptocurrency space. Send your leads, tips or interview requests to: [email protected]

Related Posts

UNCTAD, document heading

UNCTAD Wants To Curb Crypto Adoption In Developing Countries. Of Course They Do

2 days ago
Bitcoin Crypto

Crypto Market Sees $510M Futures Flush As Bitcoin Breaks $24.5k

2 days ago
bitcoin family

“Bitcoin Family” Loses $1 Million In Bear Market, What’s Next For Them?

2 days ago
Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

Zipmex Opens Crypto Withdrawals After Pausing Due To Volatile Markets

2 days ago
Bitcoin UK Based Football Club Oxford City Embraces Bitcoin As Payment For Match Tickets

Why $10 Trillion AUM BlackRock Launched Spot Bitcoin Private Trust For Clients

2 days ago
Crypto

Crypto Obsessed: Nigeria Tops Google Trends Search For Cryptocurrency Info

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Play Games
  • BET&WIN
  • Bitcoin Casino Reviews

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.