Billionaire Alan Howard is betting on cryptocurrency

Billionaire Alan Howard is betting on cryptocurrency

Billionaire Alan Howard, who last year made significant investments in cryptocurrency, plans to invest more in digital assets and blockchain technology.

Partners Howard at hedge Fund Brevan Howard Asset Management, which he founded, have already made such investments. Although the hedge Fund, which manages assets worth $9.1 billion, is not involved in cryptocurrency trading.

54-year-old billionaire has already hired one employee to work on initiatives in the field of digital assets. In the near future, Howard plans to expand the staff, as he plans to invest in blockchain startups and participate in ICO.

The interest of Howard to the cryptocurrency contrasts with the hostility and skepticism of many financial experts, from Jamie Dimon to Warren Buffett. The recent jump of the exchange rate of Bitcoin has shocked even the most seasoned experts.

However, the cryptocurrency is well-known supporters, including former Manager macropodum Mike Novogratz and billionaire investors mark Cuban and Peter Thiel.

Cryptocurrencies have attracted the attention of investors in 2017, when the price of Bitcoin beat all record highs. The rapid growth and subsequent decline of 42 percent since the beginning of 2018 became the impetus for a thorough review by the regulatory authorities worldwide.

Last year was to Fund Alan Howard is the most unsuccessful for the last 14 years, mainly due to the lack of volatility on the background of the incentive of the Central Bank, which prevented traders earn. Therefore, the interest of a billionaire to cryptocurrencies, most likely caused by the search of something more interesting and promising.

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