In recent days, we have witnessed several reports that Steve Cohen’s Point72 Asset Management is intensively exploring cryptocurrencies, but also that he probably wants to set up a crypto working group.
The first information was searched last month by the daily Bloomberg, which saw a private letter to investors stating "We are exploring opportunities around blockchain technology and its transformative and disruptive capabilities,” -- “We would be remiss to ignore a now $2 trillion crypto currency market.”
However, it didn't take long and today we are already witnessing further reports from people who are familiar with the matter that Point72 Asset Management is hiring a 'Head of Crypto'. The information was confirmed this time by The Street, which added that it is a clear bullish signal for Bitcoins as well as other cryptocurrencies.
The deduction that this is a bullish signal is precisely due to the fact that Steve Cohen's Point72 is highly known throughout Wall Street which can cause considerable institutional excitement.