Investor Dan Loeb “digs deep into the crypto universe”

Dan LoebThe CEO of New York-based wealth management company Third Point and a well-known figure on Wall Street have said so is looking for ways to bridge the gap between traditional finance and the crypto space.

In a series of tweets to his followers today, Loeb He said that he was “deeply immersed in the crypto-universe”, referring to a recent article on non-fungible tokens, or NFTby Chris Dixon, General Partner at Andreessen Horowitz. Dixon described the way NFTs could transform the economics of content creators, that is, this technology enables them “a new way to make money”.

Although Loeb described the crypto room as “a real test of intellectual openness to new and controversial ideas,” he said he still maintained a healthy level of skepticism.

Investor Dan Loeb “digs deep into the crypto universe”
Investor Dan Loeb “digs deep into the crypto universe”

“Culturally, I compare joining the world of cryptocurrencies to the old one as something similar to finding a portal between two different worlds in the multiverse.”, He said Loeb. Another conflict to be overcome is the idea that being late at the crypto party inevitably leads to you taking the fool’s place at a high stakes poker table rather than these being the beginning of what is now being mainstreamed . “

Third Point’s CEO may be late, as he puts it, on certain aspects of the “Crypto Party,” but his possible inclusion in the room as a Wall Street figure could mark the first domino in a number of other investors. Important people who are still in doubt about the technology and what it means for traditional finance. According to some estimates, the hedge fund manages between $ 15 billion and $ 20 billion in assets, with Loeb’s net worth exceeding $ 3 billion.

In July, Cointelegraph reported that numbers like Loeb were related to “activist investors”, people who wanted to make “significant change” within a company by buying large amounts of its stock or getting a seat on its board of directors.. The fact that Loeb announced his deep dive into cryptocurrencies on social media could suggest that he already has some understanding of the space.

The price of Bitcoin (BTC) and other tokens can be extremely volatile due to mere rumors from institutional investors. Elon Musk, one of the richest people in the world, changed the price of Dogecoin (DOGE) with a single tweet. A top Wall Street billionaire who just announced he is considering the implications of entering space could be positive news for Bitcoin and other cryptocurrencies.

“Better late than never, but [Loeb] it seems very conflictual “, He said Joe Kernen, presenter of CNBC’s Squawk Box. “He thinks about it a lot.”

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