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BREAKDOWN: George Soros and Steve Cohen Go In on Bitcoin; Here’s Why That Might Not Be a Good Thing

BREAKDOWN: George Soros and Steve Cohen Go In on Bitcoin; Here’s Why That Might Not Be a Good Thing

FromCoinDesk Podcast Network


BREAKDOWN: George Soros and Steve Cohen Go In on Bitcoin; Here’s Why That Might Not Be a Good Thing

FromCoinDesk Podcast Network

ratings:
Length:
13 minutes
Released:
Jul 1, 2021
Format:
Podcast episode

Description

A fresh wave of institutional investors poses new risks to crypto. This episode is sponsored by NYDIG.In this episode of “The Breakdown,” NLW discusses a fresh wave of investors and their potential disruptions to markets, including:Two new major hedge funds, Point72 and Soros FundInevitable short-term investors as part of market maturationTroublesome possibility of regulation forming around institutional trading habitsIn early 2020, institutional investors flowed into the crypto space nonstop, including hedge funds, corporate treasuries and insurance companies. This new type of investor changed the space, with surging and plunging prices following news of investors coming and going. Then the flood stopped as the always-controversial Elon Musk’s Tesla balked at bitcoin’s energy consumption and walked back accepting the top cryptocurrency in exchange for the company’s trendy vehicles. In the last quarter, institutional investors have been stepping back into crypto. Point72, Steve Cohen’s company, stated it would be “remiss to ignore a now $2 trillion cryptocurrency market” and is looking to hire a “Head of Cryptocurrencies.” Besides Point72, internal management at George Soros’ Soros Fund has given the “greenlight to actively trade bitcoin.”Are these two hedge funds just the tip of the iceberg for a resurgence in institutional investment? How will this new mass of money impact markets and regulation?-NYDIG, the institutional-grade platform for Bitcoin, is making it possible for thousands of banks who have trusted relationships with hundreds of millions of customers, to offer Bitcoin. Learn more at NYDIG.com/NLW.-Image credit: Sean Gallup/Getty Images Europe, modified by CoinDeskSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Jul 1, 2021
Format:
Podcast episode

Titles in the series (100)

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