Eric Peters of One River Asset Management told Bloomberg that his hedge fund’s holdings of digital assets has exceeded $1 billion, adding that institutional adoption of crypto assets -- which played a large role in Bitcoin’s rally this past year -- is only expanding. Bridgewater’s Ray Dalio called the coin “one hell of an invention," adding that the firm is considering cryptocurrencies for two new funds. Also Read | Covid vaccination faces slow startThe largest cryptocurrency rose 8.3% to $33,558 as of 6:10 p.m. in New York. The wild swings come amid the turmoil seen in stocks such as GameStop Corp. that have become favorites of retail investors. SkyBridge Capital’s Anthony Scaramucci said that the turmoil is an affirmation of financial decentralization, which has long been the guiding force behind Bitcoin.

Source: Mint January 29, 2021 01:36 UTC