Bridgewater, the world’s largest venture fund, is preparing to invest in a crypto fund for the first time.
Bridgewater Takes Cryptocurrencies Seriously For The First Time
This development was considered the first indication that Bridgewater takes cryptocurrencies seriously.
Speaking to Coindesk on the subject, two different sources announced that the world’s largest venture fund will invest in an external crypto fund. However, according to sources, the company currently does not have any plans to directly invest in crypto assets.
Bridgewater, which manages $150 billion in assets, thus showed for the first time that it takes cryptocurrencies as an asset class seriously. However, the founder of the company, Ray Dalio, personally stated in his statement in May 2021. bitcoin announced that he was the owner.
Additionally, Bridgewater’s investment in the crypto fund will be extremely small relative to the asset it manages. Other prominent crypto investors are also in talks to invest in the fund, according to the sources.
Although four different sources said that the company will enter the crypto world by mid-2022, a spokesperson for the company announced last month that it has no plans to invest in cryptocurrencies. The spokesperson said that cryptoassets are being explored, but that investing in crypto is not in their current plans.
The company did not make any statements about the latest developments.
Sources speaking to the media claimed that a small portion of the company’s funds will be transferred directly to digital assets. Another source said that Bridgewater wants to enter the crypto industry in liquidity, service providers and many other areas.
*Not investment advice.