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Komfie Manalo, Opalesque Asia:

He just couldn't resist it. Billionaire hedge fund manager Steven Cohen is investing in a cryptocurrency-focused hedge fund, validating the emergence of digital currency as an important asset class.

A person familiar with the matter who asked not be named said that Cohen Private Ventures invested in Arianna Simpson' Autonomous Partners. The hedge fund has also received allocations from Coinbase Inc. Chief Executive Officer Brian Armstrong, Union Square Ventures, and Craft Ventures Co-Founder David Sacks.

According to Simpson, her hedge fund is also invested in several major cryptocurrencies like Bitcoin and Ethereum. She said Autonomous Partners is focused in digital currencies that are used as general purpose money, as well as firms that create the next generation of financial infrastructure.

Cohen Private Ventures is a private equity-focused fund which also invests in longer-term investments on behalf of Cohen. The billionaire hedge fund manager runs the fund management firm Point72 Asset Management.

Cryptocurrency is the fastest growing segment of the hedge fund industry, data from Crypto Fund Research showed. It said that in the first six months of the year $......................

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