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Hedge Fund Manager Daniel Loeb Says He's Taking a Crypto 'Deep Dive'
The New York-based hedge fund founder described cryptocurrency as a "real test of being open to new and controversial ideas."
Updated Sep 14, 2021, 12:19 p.m. Published Mar 2, 2021, 3:27 p.m.
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Daniel S. Loeb, CEO and founder of hedge fund Third Point, says he's taking "a deep dive into crypto."
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- The New York-based CEO described cryptocurrency as a "real test of being open to new and controversial ideas" in a series of tweets on Monday.
- Loeb likened bridging crypto and mainstream finance to "finding a portal" between two different worlds.
- He also stressed the importance of "maintaining healthy skepticism while deepening one's understanding" and pondered whether it is now too late to join "the crypto party," even if it's still "early days in what is just now being adopted in the mainstream."
I’ve been doing a deep dive into crypto lately. It is a real test of being intellectually open to new and controversial ideas. Culturally I compare bridging the crypto world with the old as akin to finding a portal @chbetween two distinct worlds in the multiverse. https://t.co/LqWwfIxOyd
— Daniel S. Loeb (@DanielSLoeb1) March 1, 2021
- Bitcoin critic Peter Schiff weighed in on Loeb's musings in his own tweet, saying: "No deep dive is required. The intellectual pool is shallow."
- Third Point describes itself as focusing on "event-driven, value-orientated investing" and has approximately $14 billion assets under management.
See also: Arca Is Latest Crypto Fund to Launch a Bitcoin Trust
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