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Former Point72 Manager: Cryptocurrency will be Worth Trillions

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cryptocurrency fund

After leaving a position at Steven Cohen’s Point72 hedge fund, Travis Kling just launched his own cryptocurrency fund.

“The development and growth of this technology will be exponential”

Reportedly, the new cryptocurrency hedge fund is called Ikigai and will launch October 1, 2018.

As most blockchain professionals have noted, related technology is still in its infancy.

However, he does expect that it will exponential growth, as does the CEO of Binance.

In fact, Changpeng Zhao believes it still has plenty of room to grow by more than 1,000%

All as cryptocurrencies like Bitcoin and Ethereum reach mainstream adoption.

“I will say ‘crypto will absolutely grow 1000x and more!’ Just reaching USD market cap will give it close to 1000x, (that’s just one currency with severely restricted use case), and the derivatives market is so much bigger,” he noted on Twitter.

“You also can’t use traditional market size to measure potential for new technologies or industries. If you used (and people have) taxi market size to estimate Uber’s potential, you would be off by quite a bit.”

Not the Only Bulls in the Room

Tom Lee of Fundstrat had famously prophecized that BTC “could end the year explosively higher.”  In fact, he says Bitcoin could rally as high as $25,000.

Co-founder of Reddit, Alexis Ohanian also emphasized that the top cryptos will soon be trading at $20,000 and $1,500, respectively.

And Julian Hosp of TenX said he’s “quite confident” Bitcoin will hit $60,000 in 2018.

 

 


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