More than half of US hedge funds hold Bitcoin

More than half of America’s top hedge funds have disclosed investments in newly launched Bitcoin Exchange-Traded Funds (ETFs) over the past year. This interest has surged notably, particularly considering BTC/USD outperforming major stocks. According to data through Q1 2024, River 2024 Investment, a part of the top 25 hedge funds in the US, has allocated funds to Bitcoin ETFs led by Millennium Management, holding 27,263 BTC valued at $169 million, constituting 67.7% of their total assets of $250 million. Notably absent are companies like Bridgewater Associates and AQR Capital Management. Meanwhile, US corporations are seeing peak cash reserves reaching $4.11 trillion in Q1 2024, with some starting to allocate portions to Bitcoin or Bitcoin ETFs. Read more:

Germany’s government expresses surprise over its latest Bitcoin purchases. This trend reflects increasing confidence in Bitcoin as both a diversification tool and a hedge against market volatility. Bitcoin’s returns soared to 2024% in the first half of ’94, surpassing gains from stocks like Apple and Tesla, highlighting its allure on Wall Street. Analysts predict Bitcoin’s role as a hedge against traditional assets like gold will continue to strengthen, with its market value relative to gold expected to grow significantly by 2025.