Giant Billionaires of the USA Rushed to Buy Bitcoin: The Ratio is Surprising!

Steven Cohen's hedge fund Point72 shared that it invested millions of dollars in Bitcoin (BTC).

Point72, which has $34 billion under its control, announced its first quarter 2024 balance sheet report. The company noted that it has $77.5 million worth of Bitcoin investments. According to the details, the investment in question was made through the purchase of the Fidelity Wise Origin Bitcoin Fund.

With this spot Bitcoin ETF investment, the company has become one of the other hedge funds that cannot remain indifferent to Bitcoin. 13 of the 25 largest US hedge funds invested in Bitcoin ETFs in the first quarter. These included, in addition to the previously mentioned names, important players such as Fortress Investment Group and Schonfeld Strategic Advisors.

The involvement of corporate companies in the market thanks to spot Bitcoin ETFs has been one of the events that have excited the cryptocurrency industry since the first day.