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 suppose 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 advised Coin Tales host Natalie Brunell on Thursday.
Semler is assured that Bitcoin is a significant play
Semler, who additionally based hedge fund TCS Capital Administration in 2001, made his feedback amid skepticism throughout the crypto trade about how lengthy political assist for crypto will final after US President Donald Trump’s administration ends. Whereas Trump not too long ago signed off on a Bitcoin (BTC) Strategic Reserve, some, like JAN3 founder Samson Mow, are involved that assist could probably unravel below a future president.
Nevertheless, it isn’t a priority for Semler, who has doubled down on the asset. In Could 2024, Semler Scientific grew to become the second US publicly traded firm to undertake a Bitcoin treasury technique.
On Thursday, Semler Scientific introduced plans to extend its Bitcoin holdings by practically 23 instances 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 standard finance trade as a bullish sign.
“While 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 mentioned.
“I believe we received nice alternatives to point out those who principally they’re lacking out on an important alternative,” he added.
Semler mentioned he has constructed a profession on going in opposition to the grain. “The very best investments I’ve ever made have been in issues that I’m type of the lone voice crying within the wilderness,” he mentioned.
“These are the sorts of investments which have the best returns,” he mentioned.
“I like the negativity; I’m a contrarian investor.”
Surveys present hedge funds are turning to Bitcoin
In October 2024, the Various Funding Administration Affiliation and PwC carried out 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 mentioned they’d publicity to crypto in 2022.
Again in June 2021, Intertrust World 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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