Eric Semler is the chairman of Semler Scientific Inc. a healthcare technology firm. He says that many hedge funds are skeptical of Bitcoin’s prospects once US president Donald Trump leaves office.
“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 says that Bitcoin has a lot of potential
Semler made his remarks amid doubts. He founded the hedge fund TCS Capital Management, also in 2001. within the crypto industry How long will political support for cryptocurrency last once Donald Trump leaves office? After the Trump administration, it is unclear how long political support will last for cryptocurrency. recently signed off Bitcoins (BTCStrategic Reserve some, like JAN3 founder Samson MowConcerned that the support they have received could be undermined by a potential future president
Semler Scientific, however, has remained steadfast in its investment. Semler Scientific adopted the Bitcoin Treasury strategy in May 2024.
Semler Scientific increased its workforce by announcing plans on Thursday. its Bitcoin holdings by nearly 23 times In the coming two and a half years, increasing its holdings From 4,449 to 105,000 bitcoins. 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 has made a career out of going against the flow. “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 (AIM) will launch in October 2024. Association and PwC conducted a survey revealing Cryptocurrencies are used by 47% of the hedge fund managers who trade on traditional markets.
Related: Bitcoin threatens $104K ‘rug pull’ as trader says major move yet to come
The percentage of people who said they have exposure to bitcoin is 29% by 2023.
Intertrust Global conducted a survey in June of 2021 asking 100 global chief financial officer hedge fund about their plans to invest in cryptoassets.
The majority of respondents (98%) said they anticipate their hedge funds investing 7.2% in their assets in cryptocurrencies by 2026.
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Source: cointelegraph.com
