Eric Semler of Semler Scientific Inc. (a healthcare tech company) says many of the hedge fund managers he works with are sceptical about Bitcoin’s future after Donald Trump leaves his 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’ Natalie Brunell will be hosting on 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? When Trump’s administration ends, how long will political support for crypto last? 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 continued to invest in the cryptocurrency. Semler Scientific, a publicly-traded US company, adopted a Bitcoin Treasury Strategy in May 2024.
Semler Scientific has announced its plans to expand. its Bitcoin holdings by nearly 23 times Growing its revenue in the next 2 1/2 years will be a major challenge. holdings 44449 Bitcoins to 105,000. Semler wants to own 10,000 Bitcoins total by the year’s end.
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 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 will be launching 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
In 2023, 29% of respondents reported exposure to cryptocurrency. By 2022, 37% had said that they were exposed.
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.
Almost all of the respondents (98%) said they anticipate their hedge funds investing 7.2% in their assets in cryptocurrencies by 2026.
Magazine: Arthur Hayes doesn’t care when his Bitcoin predictions are totally wrong
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
