Bridgewater Plans to Invest in Crypto Fund

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Today’s Cryptocurrency Headline

Bridgewater, the world’s largest hedge fund, is planning to invest in a crypto fund for the first time but has no plans to invest directly in crypto assets. This is the clearest signal from the fund that crypto assets are being taken seriously. Ray Dalio said he held Bitcoin personally in May 2021. However, the investment size is tiny compared to Bridgewater’s total assets under management (AUM) of more than $150 billion, according to sources. In addition, other  prominent cryptocurrency investors are also in talks to invest in the crypto fund. Bridgewater did not respond to this story.

BingX’s Bitcoin Chart

Source: TradingView& BingX

According to CoinShares, there was an outflow of $47 million from crypto investment products, mainly from North American investors, accounting for 98% of the outflow in the week leading up to March 18. Bitcoin has gained 3.44% over the last 24 hours and has risen to an intraday high of $43,361. In addition, the price closed above the 100-day moving average (MA) ($42,179). If the bulls can maintain the price above the 100-day, we can expect a further upward move to the resistance at $45,000 in the coming days.

 

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