Billionaire Investor Alan Howard bets high on Bitcoin

According to latest Bloomberg reports, Billionaire investor Alan Howard will make more investments in cryptocurrencies like bitcoin. Alan has also made sizable investments in the cryptocurrency market last year. However, spokesmen for Howard and his company declined to comment on his trades.

Previous Investments by Howard

Alan Howard is a British hedge fund manager, the co-founder of Brevan Howard Asset Management LLP, and a former director of the Conservative Friends of Israel. Other partners at the hedge fund he co-founded have independently made similar investments. The investments are separate from the $9.1 billion hedge fund firm. Howard, 54, has already hired at least one person to work for him on initiatives in digital assets and plans to hire more. He could make private-equity style investments in blockchain companies. And according to the unnamed spokesperson, he may also participate in ICOs.

Other Notable Investors

Cryptocurrencies do have some big-name enthusiasts, including former macro fund manager Mike Novogratz and billionaire investors Mark Cuban. Several billionaire investors including Peter Thiel, a PayPal co-founder, have continued to express their optimism towards the market. His venture capital firm called Founders Fund invested around $20 millions in mid-2017. In December 2017, when bitcoin reached 15,000 USD, the $20 million investment of Thiel had already returned hundreds of millions of dollars. Right now, the price of bitcoin stands at around 9,000 USD after recovering from a dip of 6,000 USD.

However, Howard’s interest in cryptocurrencies contrasts the skepticism os many big guns in finance and economics. Economists like Warren Buffet and Jamie Dimon have time and again expressed their hatred towards digital currencies openly. Bitcoin’s whipsaw ride over the past six months has thrust the risks of investing in one of the wildest and least-regulated corners of finance into the spotlight.
Also read: Investor Carl Icahn thinks Bitcoin is ridiculous

Twitter CEO

However, Twitter CEO, Jack Dorsey says that Bitcoin will become the ultimate currency in future. In his recent interview in London, Twitter CEO highly endorsed Bitcoin. He said that he believes Bitcoin could become the world’s leading currency within a decade — or perhaps even sooner. He told the public that he is one of the seed investors of Lightning Labs, a startup that is working on the slow transaction and high fees issue. It is a company which is trying to make the transactions cheaper and faster to use. Earlier this month, Lightning Labs released lnd 0.4-beta, which is the first LN implementation to receive a beta release.

 

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