One River Digital – crypto investments at US$1 billion in 2021
One River Digital has already invested 600 million US dollars in Bitcoin and Ethereum. The aim is to break through the 1 billion mark from 2021. There is support from hedge fund manager Alan Howard.
As the news portal Bloomberg reports, One River Digital (ORD) wants to have invested one billion US dollars in Bitcoin and Ethereum by 2021. The digital offshoot of the volatility hedge fund Crypto Bank One River Asset Management has already put 600 million US dollars into cryptocurrencies. Eric Peters CEO and founder of One River Asset Management commented:
This new asset class will see a generational allocation. The flows have only just begun.
Support for One River Digital from Alan Howard and Ruffer LLP
The venture has the support of Alan Howard. According to Bloomberg, the hedge fund manager has secured an equity stake in One River Digital. Blockchain financial services provider Elwood Asset Management, which is under Howard’s control, is providing ORD with market analysis, technical support and trading services.
UK fund provider, Ruffer LLP, is also an investor in ORD. Separately, Ruffer announced on Tuesday that it holds 2.5 percent of its total assets under management in bitcoin. The investment was made in early December and came at the expense of its gold position. In doing so, the company stressed that the Bitcoin investment served to diversify its gold position, but only represented a fraction of its gold holdings.
Bitcoin cracks the 20,000 US dollar mark
Virtually overnight, bitcoin has set another milestone in its history by breaking the magical $20,000 barrier. Previously, the cryptocurrency had repeatedly failed to reach the mark. Currently, the bitcoin price is at 22,780 US dollars and the record value caps a year full of gains for the digital store of value. The fact that more and more large investors are discovering the cryptocurrency for themselves is benefiting the price of the „digital gold“ enormously. Experts already see Bitcoin on its way to the 50,000 mark. One River Digital could definitely pave the way for this with its one trillion dollar investment.