from Zero Hedge
It’s oddly fitting that on the day bitcoin finally breaks out above $20,000 – a critical psychological level first established during the Dec 2017 meltup – we learn that a new and formerly unknown massive bitcoin whale, who just happens to be one of the most respected hedge funds currently operating, has backing from legendary traders and is a frequent guest on these pages – has been quietly accumulating a lot of bitcoin… some $1 billion worth.
According to Bloomberg’s Erik Shatzker, a hedge fund specializing in volatility bets – one which regular Zero Hedge readers are very familiar with – has emerged as one of the largest investors in Bitcoin after quietly buying more than $600 million in cryptocurrencies in recent months and joining forces with legendary trader Alan Howard, co-founder of Brevan Howard Asset Management.