Eric Semler, chairman of healthcare tech agency Semler Scientific Inc., says a lot of his hedge fund friends are skeptical about Bitcoin’s future as soon as US President Donald Trump leaves workplace.
“I believe that they assume it’s a fly-by-night idea and that it’s in all probability going to, after the Trump administration, return down quite a bit,” Semler told Coin Tales host Natalie Brunell on Thursday.
Semler is assured that Bitcoin is a serious play
Semler, who additionally based hedge fund TCS Capital Administration in 2001, made his feedback amid skepticism within the crypto industry about how lengthy political assist for crypto will final after US President Donald Trump’s administration ends. Whereas Trump recently signed off on a Bitcoin (BTC) Strategic Reserve, some, like JAN3 founder Samson Mow, are involved that assist might probably unravel underneath a future president.
Nevertheless, it isn’t a priority for Semler, who has doubled down on the asset. In Might 2024, Semler Scientific turned the second US publicly traded firm to undertake a Bitcoin treasury technique.
On Thursday, Semler Scientific introduced plans to extend its Bitcoin holdings by nearly 23 times within the subsequent two-and-a-half years, rising its holdings from 4,449 Bitcoin to 105,000 Bitcoin. Semler is aiming to carry a complete of 10,000 Bitcoin by the top of this yr.
Semler sees doubt from the normal finance trade as a bullish sign.
“Once you’re having a bet on one thing that almost all doesn’t consider in, and also you’re proper, you make a lot more cash,” Semler stated.
“I believe we acquired nice alternatives to point out people who mainly they’re lacking out on an incredible alternative,” he added.
Semler stated he has constructed a profession on going in opposition to the grain. “The perfect investments I’ve ever made have been in issues that I’m type of the lone voice crying within the wilderness,” he stated.
“These are the forms of investments which have the very best returns,” he stated.
“I really like the negativity; I’m a contrarian investor.”
Surveys present hedge funds are turning to Bitcoin
In October 2024, the Different Funding Administration Association and PwC conducted a survey revealing that 47% of hedge fund managers buying and selling in conventional markets are uncovered to cryptocurrencies.
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Crypto publicity was 29% in 2023, whereas about 37% of the respondents stated they’d publicity to crypto in 2022.
Curiously, again in June 2021, an Intertrust International surveyed chief monetary officers from 100 hedge funds worldwide about their intention to buy crypto belongings.
About 98% of them responded that they anticipate their hedge funds to have invested 7.2% of their belongings in cryptocurrencies by 2026.
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