Eric Semler of Semler Scientific Inc. (a healthcare tech company) says he and his peers in the hedge fund industry are skeptical that Bitcoin will survive once US President Donald Trump is no longer president.
“I think that they think it is a fly-by-night concept and that it is probably going to, after the Trump administration, go back down a lot,” Semler told Coin Stories is hosted by Natalie Brunell, Thursday.
Semler believes that Bitcoin will be a big play
Semler also founded TCS Capital Management (2001) and made comments in the face of skepticism. within the crypto industry After the end of Donald Trump’s presidency, how long will crypto support last? When Trump’s administration ends, how long will political support for crypto last? recently signed off Bitcoin – a Bitcoin (BTCStrategic Reserve some, like JAN3 founder Samson MowConcerned that the support they have received could be negatively affected by a new president,
Semler Scientific, however, has doubled its investment in the cryptocurrency. Semler Scientific adopted the Bitcoin Treasury strategy in May 2024.
Semler Scientific has announced its plans to expand. its Bitcoin holdings by nearly 23 times In the coming two and a half years, increasing its holdings 44449 Bitcoins to 105,000. Semler aims to have a total holding of 10,000 Bitcoins by the end this year.
Semler considers the lack of confidence in traditional finance as a sign that things are going well.
“When you’re making a bet on something that the majority doesn’t believe in, and you’re right, you make so much more money,” Semler said.
“I think we got great opportunities to show people that basically they’re missing out on a great opportunity,” He also added.
Semler says he built his career by going against conventional wisdom. “The best investments I’ve ever made have been in things that I’m kind of the lone voice crying in the wilderness,” “He said”
“Those are the types of investments that have the highest returns,” “He said”
“I love the negativity; I’m a contrarian investor.”
Hedge funds have embraced Bitcoin according to surveys
Alternative Investment Management will be launching in October 2024. Association and PwC conducted a survey revealing The fact that nearly half of all hedge funds trading on the traditional market are now exposed to cryptocurrency.
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The percentage of people who said they have exposure to bitcoin is 29% by 2023.
Intertrust Global, a global financial services firm, surveyed 100 chief financial officers of hedge funds about their intentions to buy crypto assets in June 2021.
98% expect that their hedge funds will have invested 7,2% of their assets. in cryptocurrencies by 2026.
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Source: cointelegraph.com
