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 feel that they suppose it’s a fly-by-night idea and that it’s most likely going to, after the Trump administration, return down rather a lot,” 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 inside the crypto trade about how lengthy political assist for crypto will final after US President Donald Trump’s administration ends. Whereas Trump just lately signed off on a Bitcoin (BTC) Strategic Reserve, some, like JAN3 founder Samson Mow, are involved that assist could doubtlessly unravel beneath a future president.
Nonetheless, 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 almost 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 tip of this yr.
Semler sees doubt from the normal finance trade as a bullish sign.
“While you’re betting on one thing that almost all doesn’t consider in, and also you’re proper, you make a lot more cash,” Semler mentioned.
“I feel we acquired nice alternatives to point out folks that principally they’re lacking out on a fantastic alternative,” he added.
Semler mentioned he has constructed a profession on going in opposition to the grain. “The most effective 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 forms 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 Different Funding Administration Affiliation and PwC performed 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 that they had publicity to crypto in 2022.
Apparently, 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 count on their hedge funds to have invested 7.2% of their belongings in cryptocurrencies by 2026.
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