Steve Cohen, a billionaire fund manager, declared this week at the SALT conference in New York his interest in the cryptocurrency sector. The billionaire, who used to be a staunch opponent of crypto assets, seems to have firmly changed his mind.
Cohen admitted that his son, a crypto enthusiast, convinced him to be open to the possibilities of the cryptocurrency sector. Since then, Cohen said that he has spent several months connecting with people with knowledge about the ecosystem and learning more about blockchain technologies and the possibilities that the sector offers, and stated:
“Once I decided there were opportunities, and I thought this could be a space like the Internet – it could be incredibly transformative – I was not going to miss this.”
Cohen also confirmed that he had made personal investments in the cryptocurrency industry : He has invested in Radkl, a quantitative trading company that deals with digital assets, adding that his family office had made a $ 50 million investment in Recur. , a Metaverse development firm.
However, Cohen said that for now he is not looking to invest directly in cryptocurrencies, but instead looks at the potential of the underlying technology and what it can achieve. In this way, he stated that he is not interested in bitcoin: “I care more about the technology behind the blockchain and how disruptive it could be.”
Steve Cohen is not the first billionaire to change his mind on cryptocurrencies after being a critic. One of the better-known names on Wall Street, Jordan Belfort , had spoken out against bitcoin on several occasions. However, he has recently changed his mind after stating that the price of BTC could reach $ 100,000 by the end of 2021, and that Bitcoin’s gains will be possible thanks to the finite supply of the currency.
Another billionaire who was once skeptical about bitcoin but who has changed his mind is Peter Schiff, who also claimed that BTC could hit $ 100,000 by the end of 2021 and wished he had ventured into the market earlier.