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Billionaire investor and Point 72 Asset Management CEO Steve Cohen says he’s digging deep into cryptocurrency. Emphasizing that he is “completely converted,” the billionaire said: “I won’t miss this. I already feel like I missed the first part.
Steve Cohen Goes into Crypto, Says He’s ‘Fully Converted’
Steve Cohen is the president, CEO and chairman of Point72, an asset management company with approximately $ 22.1 billion in assets under management (AUM) as of April 1. The company has 12 offices around the world and more than 1,650 employees.
He shared his take on cryptocurrency in an interview last week, pointing out that he has finally decided he needs to get into the game. The billionaire CEO said:
I’m taking a deep dive into crypto. I am completely converted.
Cohen added, “I have an old saying at the poker table, you have to pay to learn. There is no way around it. You can talk as much as you want, but you have to get into the game. “
He continued: “I hope we can start to build something within Point72”, adding that “we are starting to think about it”. Regarding when to enter the crypto market, Cohen said:
The timing is never good. Who knows. I don’t know if these things will increase.
However, the CEO of Point72 does not like bitcoin. “Forget bitcoin,” he exclaimed. “I don’t care about bitcoin. I care more about the technology behind blockchain and how transformational it is and how disruptive it could be. “
Cohen added, “I feel like the way these markets are developing could be a really interesting adjacency to what we’re doing at Point72,” emphasizing:
So I don’t miss it. I won’t miss this. I already feel like I missed the first part, but I still feel like it’s early.
The billionaire noted that cryptocurrency is an example of something he wants to “look ahead and take risks”. He concluded, “I may sound silly at first, but you scale it up, learn the game, and when you’re confident, level it up.”
What do you think of Steve Cohen’s comments on crypto and bitcoin? Let us know in the comments section below.
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