Massive Hedge Fund Likely to Begin Trading Bitcoin

[alyssa85]

https://www.reuters.com/article/us-investment-summit-man-group/man-group-says-bitcoin-futures-would-draw-it-toward-cryptocurrencies-idUSKBN1DE232

British hedge fund firm Man Group (EMG.L) will add cryptocurrencies to its investment universe if the Chicago Mercantile Exchange launches a bitcoin futures contract as planned, CEO Luke Ellis told Reuters on Tuesday.

Speaking at the Reuters Global Investment Outlook Summit in London, Ellis said there are a number of challenges with cryptocurrencies but that doesn’t mean they’re not investable.

“Conceptually digital currencies are an interesting thing,” he said. “It’s not part of our investment universe today – it could be. If there is a CME future on bitcoin, it would be.”

Futures market operator CME Group announced on Oct. 31 it would launch bitcoin futures in the fourth quarter.

[A1exander]

So bitcoin seems to gradually become an investment instrument for big players. Not an unexpected development and, from my point of view, a good one. The price will rise.