World’s Largest Hedge Fund – Led by Bitcoin Holder Ray Dalio – Reportedly Invests in Crypto Assets – Bitcoin – US Dollar ($BTC)

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The world’s largest hedge fund is set to back its first cryptocurrency fund, CoinDesk reported Tuesday, citing two sources familiar with the matter.

What happened: Bridgewater Associatesthe investment firm with $150 billion in assets under management (AUM), plans to back an external cryptocurrency-exposed vehicle, according to the report.

The sources were quoted by CoinDesk as saying that the fund has no intention of investing directly in such assets and that the size of Bridgewater’s investment was miniscule compared to its total AUM.

According to the report, other prominent cryptocurrency investors are also in talks to invest in the fund.

Why it matters: Ray Daliothe billionaire founder of the hedge fund, clarified his position on Bitcoin (CRYPTO:BTC) last year, calling the leading digital asset “hell of an invention” at the start of last year.

Later in 2021, the billionaire investor also revealed that he had made a personal investment in both Bitcoin and Ethereum (CRYPTO: ETH), without revealing the exact amounts.

“The one thing I would say to investors is don’t judge anything about your returns or your assets in nominal terms, in terms of how many dollars you have. Think of it in terms of inflation-adjusted dollars,” he said at the time.

Price action: At press time, Bitcoin was trading at $41,140, ​​down 0.59% in the past 24 hours. Ethereum was trading at $2,900, up 1.25% over the same period.

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