2020 was a big year for Bitcoin (BTC) to be massively adopted. One of the most recent contributors to the field is the One River Digital Asset Management hedge fund led by CEO Eric Peters.

Bloomberg said on Wednesday that the company expects to own about $ 1 billion in Ethereum (ETH) and BTC by the first half of next year, and has already raised about $ 600 million in assets. Alan Howard, co-founder and recognized billionaire Brevan Howard Asset Management, is also involved in this venture.

Peter’s stance on bitcoin is in line with other players who see bitcoin as a potential hedge against inflation, similar to gold in uncertain economic times. Taking into account interest rates, financial pressures and other factors, Peters told Bloomberg:

“There are definitely more risks here than gold, which has been around for thousands of years, but there is also much greater inflation. […] There are very few high prices that help your wallet when these macro forces kick in.
Peters took a group of thought leaders who saw BTC becoming more prevalent in the next few days. It is to explain:

“This new asset class will be passed on to the generations […] The currents are just beginning.”
Yesterday, however, One River didn’t buy $ 600 million in BTC and ETH alone. According to a Bloomberg article, Peters completed the purchases in November by acquiring hidden heaps of assets without causing public noise.

Bitcoin recently increased to $ 20,000 and is still above that level at the time of publication.

Source: CoinTelegraph