Hedge fund billionaire and New York Mets owner Steve Cohen said he owns "very little" bitcoin, though he didn't specify its value. "My son is really into it, and he had me play around and try to figure out how to transact on Coinbase," Cohen told CNBC's "Squawk Box" on Wednesday. The chairman and CEO of Point72 Asset Management, which has about $32 billion in assets under management, added that he doesn't have strong opinions about the digital asset class. Still, he appears to be following along with investors across the world who have been trying to understand how to value bitcoin and whether it belongs in a portfolio. "I don't follow it that closely, it's not what I do," he said. "There's certainly an element of the population that believes in it." "Maybe it's the new gold," he added. "It's a new instrument, that's the argument ... [it's] really hard to know." BTC.CM= 1Y mountain Bitcoin (BTC) over the past year Cohen also made the point that bitcoin represents just a slice of the broader market of cryptocurrencies and the opportunities for their underlying blockchain technology. "Bitcoin is separate from crypto ... ultimately, it's about use case will crypto develop use cases?" he said. "So bitcoin's interesting, but it's just a piece of that whole ecosystem." The venture capital arm of Cohen's fund, Point72 Ventures, has made investments in a handful of crypto companies, including the data provider Messari, crypto infrastructure platform Zero Hash, as well as crypto and foreign exchange trading platform 24 Exchange. In 2021, after the peak of the bull market fueled by interest in nonfungible tokens, or NFTs, the firm said it had a long-term view on the securitization of various digital assets not currently under the SEC realm, including some cryptocurrencies and NFTs.
See the article here:
Steve Cohen says he owns a 'little bit' of bitcoin because of his son - CNBC
- Elastos Looks to Capture BTC Staking Demand With Bitcoin Layer 2 Offering - CoinDesk - December 23rd, 2023 [December 23rd, 2023]
- Ordinals are driving up Bitcoin fees but that may be good for the network - Blockworks - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin blockspace isn't too expensive, you're just too cheap - Blockworks - December 23rd, 2023 [December 23rd, 2023]
- BTC price shirks US PCE inflation win as Bitcoin $42K buyers step in - Cointelegraph - December 23rd, 2023 [December 23rd, 2023]
- This proposed bitcoin ETF has a twist. Would investors bite? - Blockworks - December 23rd, 2023 [December 23rd, 2023]
- The SEC attaches a string to Bitcoin ETFsand investors will be the one to pay for it - Fortune - December 23rd, 2023 [December 23rd, 2023]
- Crypto Market Surges Ahead of Bitcoin ETF Decision - PYMNTS.com - December 23rd, 2023 [December 23rd, 2023]
- You can now pay your contracts in Bitcoin in Argentina, says minister of foreign affairs - DLNews - December 23rd, 2023 [December 23rd, 2023]
- Has Ethereum finally bottomed vs. Bitcoin? ETH price technicals hint at gains - Cointelegraph - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin bounces back above $43,000 - CNBC - December 23rd, 2023 [December 23rd, 2023]
- ETFs, Halving, Upgrades What to Expect With Bitcoin Next Year - CoinDesk - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin ETFs are coming to town DL News - DLNews - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin Christmas: How to orange-pill your relatives this holiday season - Cointelegraph - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin Price Prediction Forbes Advisor Australia - Forbes - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin ETFs coming soon! But in cash only - David Gerard - December 23rd, 2023 [December 23rd, 2023]
- Analyst: Bitcoin to see significant surge on ETF approval - crypto.news - December 23rd, 2023 [December 23rd, 2023]
- Is it Really Up Only for Bitcoin? - CoinDesk - December 23rd, 2023 [December 23rd, 2023]
- Troubled economies turn to Bitcoin, sparking rally in local trading pairs - CryptoSlate - December 23rd, 2023 [December 23rd, 2023]
- ChatGPT predicts Bitcoin Cash price for the start of 2024 - Finbold - Finance in Bold - December 23rd, 2023 [December 23rd, 2023]
- El Salvador's Bold Move: Citizenship for Bitcoin Donations - en.econostrum.info - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin Seeks New Direction Amid December Consolidation: What Levels to Watch | investing.com - Investing.com - December 23rd, 2023 [December 23rd, 2023]
- An NYC bathhouse is mining Bitcoin to heat its poolsand score a rebate on its $20,000-a-month energy bill - Fortune - December 23rd, 2023 [December 23rd, 2023]
- Bitcoin 5% flash crash leads to $165M in leveraged crypto liquidations - Cointelegraph - April 4th, 2024 [April 4th, 2024]
- 3 Stocks to Ditch Following the April Bitcoin Halving - InvestorPlace - April 4th, 2024 [April 4th, 2024]
- Once unprofitable BTC miners are turning their machines back on Analyst - Cointelegraph - April 4th, 2024 [April 4th, 2024]
- Spot Bitcoin ETF trading volume tripled in March to $111 billion - Cointelegraph - April 4th, 2024 [April 4th, 2024]
- Investors are focused 'overwhelmingly' on bitcoin over other cryptocurrencies, BlackRock says - CNBC - April 4th, 2024 [April 4th, 2024]
- Crypto investors are bracing for a busy quarter with the Bitcoin halving, ether ETF updates and potential rate cuts - CNBC - April 4th, 2024 [April 4th, 2024]
- Why a Hong Kong Bitcoin ETF launch 'would be a very big deal' as China bans crypto - DLNews - April 4th, 2024 [April 4th, 2024]
- A hedge fund sees Bitcoin at $90000 in April. Here are five factors driving gains - DLNews - April 4th, 2024 [April 4th, 2024]
- Asian Bitcoin Investors Face Volatility Due to Automated ETF Trading Bots: Report - CryptoPotato - April 4th, 2024 [April 4th, 2024]
- This simple Bitcoin investment strategy prevents crypto traders from being liquidated - Cointelegraph - April 4th, 2024 [April 4th, 2024]
- How the Bitcoin Halving Could Affect Network Security - CoinDesk - April 4th, 2024 [April 4th, 2024]
- Bitcoin slides 5% as Treasury yields spike to highest level since November - CNBC - April 4th, 2024 [April 4th, 2024]
- $2B in Silk Road Bitcoin seized by DOJ moves to new wallet - Cointelegraph - April 4th, 2024 [April 4th, 2024]
- The 2024 halving could usher in a new era for Bitcoin - Blockworks - April 4th, 2024 [April 4th, 2024]
- Bitcoin headed for 'screwy price action' after 64% surge in first quarter - Cointelegraph - April 4th, 2024 [April 4th, 2024]