Cripto247 – The Bobby Axelrod of real life, the inspiration of Billions, began to invest in crypto

Crypto Investing Fund Reels In Steve Cohen, The Real-Life Bobby Axelrod of ‘Billions’

Investing, News | October 13, 2018 By:

Point72 Asset Management manages more than $12 billion USD, and has invested in the Autonomous Partners cryptoactive hedge fund through his family office, Cohen Private Ventures, that he launched in 2010.

Autonomous Partners, which invests in both cryptoactive and blockchain startups, was launched in December and is led by venture capital investor Arianna Simpson, one of the first believers in virtual currencies. The new fund manages more than USD 100 million and obtained funding from Union Square Ventures, Fred Wilson, Craft Ventures and Brian Armstrong, CEO of Coinbase.

“I’ve only brought partners that I think can bring a lot of added value beyond their capital,” Simpson told Fortune.

It is not known exactly how much Cohen invested in the fund. But his decision to include cryptoactives in his investment portfolio coincides with a growing interest in the sector by institutional investors. There are already more than 250 cryptoactive hedge funds, and most of them started operating in the last 18 months.

Cohen, who was nicknamed the “King of Hedge Funds” by the Wall Street Journal in 2006, made his fortune – estimated at $11 billion USD – with SAC Capital, one of Wall Street’s most famous funds until it was closed by the SEC in the middle of an insider trading investigation. The firm pleaded guilty in 2013 and paid a fine of $1.3 million USD. Although Cohen never admitted his personal guilt, he was accused of not preventing insider trading from inside his company, and was prohibited from monitoring funds for a period of two years.

The story of its rise and fall on Wall Street inspired the plot of Showtime’s popular “Billions” series.

This story was originally published in Spanish at Cripto247.com