Over 50 hedge funds attracting investors who want to go long bitcoin and the rest. Helps explain why the prices are going up even as there is no intrinsic or conversion value whatsoever, which, presuming that to be the case, also means that at some point the mania ends and the price goes all the way back to 0:
Digital currencies, such as Bitcoin, are powered by distributed ledger technology and are not controlled by a centralized authority. The market for such currencies has exploded with over 800 coins on the market with a combined marketcap of $166 billion.
Autonomous NEXT, a fintech analytics firm, released a list of 55 cryptocurrency hedge funds on Tuesday, illustrating the mounting interest in the space.
Protecting their investors…
Another interesting chart:
Still no pick up in site: