July 29, 2021

“I don’t give a damn about Bitcoin … but I’m a fan of cryptocurrencies” – This billionaire thinks he has it all figured out

Willing to risk it all for everything – In a May 16 interview conducted by Stray Reflections, billionaire Steve Cohen expressed his enthusiasm for cryptocurrency and blockchain. He mainly insisted on his desire to enter the game, not to remain a mere spectator or commentator.

The cryptosphere matters one more billionaire which reported its conversion to cryptocurrencies. It is indeed the turn of the CEO of Point 72 Asset Management, Steve Cohen, to take the plunge. His asset management company had around $ 22.1 billion in assets under management (AUM) at 1is April 2021 and has 12 offices and more than 1,650 employees worldwide.

The investor who declared having “Already the impression of having missed the first part”, does not want to “miss” the opportunities offered by cryptocurrencies. And the man is ready to “Pay to learn”, pulling out his “Old saying at the poker table”. Cohen stressed the importance “To enter the game”, not just to talk about cryptocurrencies.

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When idiocy is better than sickly caution

By stating that he has “Good hope” that his team can ” start building something within Point72 “, The billionaire confirmed this desire to make a crypto turn to his company. However, he maintained a blurry concerning best moment to enter the markets, just letting go that “The timing is never good”.

Cohen’s enthusiasm contrast with the caution of investors who keep evoking the risks relating to cryptocurrencies to justify their exclusion. The CEO of Point72 is aware that he will have “Maybe looking silly at first, but you have to size accordingly, learn the game and, when you are confident, then you take it to the next level”.

But if Cohen is hot for cryptocurrency, it is apparently far from being a Bitcoin fan. In his words:

« [Je me] cares more about the technology behind blockchain and how it can transform and disrupt the situation. “

Steve Cohen is following in the footsteps of his billionaire peers willing to put astronomical sums on the table to profit from cryptocurrencies. This is, for example, the case of businessman Carl Icahn, who could invest 1 to 1.5 billion dollars in these.

Billionaires are starting to snatch up the little bitcoin available. But for now, it is still possible to obtain and trade Bitcoin and cryptocurrencies on (almost) equal terms with the colossi of the 1%. To start calmly, you can register with this affiliate link on the FTX exchange platform