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Komfie Manalo, Opalesque Asia: Brian Kelly, founder of hedge fund firm BK Capital Management which runs the BKCM Digital Asset Fund, is so much a believer of bitcoin and cryptocurrencies that he had invested almost all of his money in them.
He told CNBC, "Like 90 percent. I run a fund. I have my money in that. I've got investments elsewhere. But that's not for everybody. I'm making a big bet."
Bitcoin and other cryptocurrencies lost much of their value during the last week of January, with the leading digital currency falling below $6,000 from its $19,000 peak in mid-December. Bitcoin has rebounded by more than 40% since last week.
When asked if he is comfortable with the wild swings in cryptocurrency value, Kelly said he is "comfortable with that."
"This is broader than just a currency. I'm making a bet that this is a new asset class in general," he said and described some cryptocurrencies as "privacy-centric."
Kelly's confidence in Bitcoin is shared by Dan Morehead, CEO of Pantera Capital, a hedge fund and investment firm that works exclusively in cryptocurrency an...................... To view our full article Click here
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