Renaissance Technologies eyeing future Bitcoin

The powerful American hedge fund Renaissance Technologies plans to embark on futures contracts sure Bitcoin.

Considered the quantitative hedge fund the most successful in history, Renaissance Technologies today manages more than $ 75 billion.

According to a notice published by the DRY from the United States, the fund opens to investment in cryptocurrency and may soon begin to include Bitcoin futures.

The Medallion Fund are authorized to enter into forward transactions on Bitcoin, ”Can be read in the document.

According to Renaissance, the Bitcoin futures include however much more risk than traditional financial instruments.

The hedge fund cites in particular the absence of legal tender, the strong volatility prices and the risks of fraud and manipulation. He intends to limit his crypto-investments to Bitcoin futures settled in cash and traded on the Chicago Stock Exchange (CME).

One of these factors could have a material and adverse effect on the value of the fund's investments, "said Renaissance.

It is not clear whether the firm has already acquired contracts at this stage.

Launched in 2017, the CME Bitcoin Futures are settled in cash and thus allow investors to speculate without having to hold digital coins. It is not clear whether the firm has already acquired contracts at this stage.

Read also : CME Launches Options for Bitcoin Futures

Last week, Renaissance made the front page of the financial press following the strong performance of its main fund of 10 billion dollars, with an increase of + 24% over the last 12 months.

The arrival of the American hedge fund in the Bitcoin futures follows the recent surge in open positions in CME, which reached $ 181 million, an increase of + 70% compared to last month.

Read also : First Bitcoin fund listed on the Toronto Stock Exchange