You’ve probably heard the name Stanley Druckenmiller, Paul Tudor Jones, Michael Saylor, Ray Dalio or Jack Dorsey somewhere. These are only a handful of billionaires who’ve joined the cryptocurrency industry so far. Most of them have done so in the past few months via different investments and/or startups. The number of billionaires joining the crypto space is steadily increasing, which was also highlighted by the third richest Mexican, Ricardo Salinas Pliego. This Mexican billionaire, with a net worth of around 16 billion dollars, has stated in the past few weeks that he is more and more intrigued by Bitcoin and its adoption. The same goes also for Marshall Wace, a London-based hedge fund with more than 55 billion dollars in assets, which is also researching its options of entering a crypto space.
Ricardo Salinas Pliego is an owner of Grupo Salinas, which contains several different companies from various industries. Banco Azteca is one of the companies that is owned by Grupo Salinas, and only recently Ricardo Salinas Pliego stated that this bank is about to become the first Mexican bank to support Bitcoin.
Salinas himself has been a fan of Bitcoin for quite some time. In November 2020 he stated that 10% of his liquid portfolio is in Bitcoin. The overall size of the investment is not known, however, this means that this news is probably not that surprising. In a recent video, he also stated that he has been intensively studying this asset to better understand it. According to him, this is also a reason why he believes that Bitcoin is the new gold.
A step like this is great for the adoption of Bitcoin in this region. Salinas quickly became popular within the cryptocurrency community with his statements. Now his tweets are retweeted or commented on more than ever by very influential cryptocurrency experts such as Michael Saylor and Anthony Pompliano.
If one billionaire joining the cryptocurrency space is not enough to persuade you, what about a whole hedge fund? According to a few people close to Marshall Wace, this hedge fund is planning on boarding the cryptocurrency train. However, it must be noted that Marshall Wace has not yet commented on this information.
Nevertheless, according to Financial Times, Marshall Wace is planning to invest in different startups (mostly in later stages of development) or into private companies seeking investments. These should mostly be connected to blockchain technology, digital payments systems or stablecoins. When it comes to stablecoins, Marshall Wace does have experience in investing in companies connected to this type of asset.
In May 2021, the company was a part of the investment round of Circle (issuer of USD Coin stablecoin) that reached 440 million dollars. It was also supported by such companies as FTX, Atlas Merchant Capital or Grayscale´s Digital Currency Group.
Marshall Wace might be also looking to create its own trading desk for cryptocurrencies. This would however happen at later stages. Let’s keep in mind most of these can still be considered “rumours” since the official statement of the Marshall Wace has not been issued. Meanwhile, the steps of this hedge fund with 55 billion dollars in assets seem to be getting closer to crypto more than ever before.