Steve Cohen Reveals He Holds a Small Amount of Bitcoin Due to His Son’s Influence

At Extreme Investor Network, we bring you exclusive insights and expert analysis on the latest trends in investing, straight from the top players in the field. Today, we’re diving into the world of cryptocurrencies with hedge fund billionaire and New York Mets owner, Steve Cohen.

In a recent interview on CNBC’s “Squawk Box,” Cohen revealed that he owns “very little” bitcoin, citing his son’s interest in the digital asset as the reason for his foray into the world of crypto. With a fortune tied up in Point72 Asset Management, which boasts $32 billion in assets under management, Cohen’s perspective on bitcoin sheds light on how high-profile investors are approaching this emerging asset class.

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While Cohen admits he doesn’t closely follow the day-to-day movements of bitcoin, he acknowledges its potential as “the new gold,” recognizing its status as a new and evolving instrument in the financial landscape. Moreover, Cohen emphasizes the importance of understanding the broader market of cryptocurrencies and the opportunities presented by their underlying blockchain technology, highlighting the diverse range of use cases beyond just bitcoin.

At Point72 Ventures, Cohen’s venture capital arm, strategic investments have been made in prominent crypto companies such as Messari, Zero Hash, and 24 Exchange, signaling a deepening interest in the future of digital assets and blockchain innovation. Looking ahead, the firm maintains a long-term view on the securitization of various digital assets, including cryptocurrencies and nonfungible tokens (NFTs), positioning itself at the forefront of this rapidly evolving space.

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