A 27-year-old raised $10 million from venture capitalists for an unusual hedge fund
|12/23/2016||Posted by BusinessMediaguide.Com under General World News||
A 27-year-old has raised $10 million for an unusual hedge fund – with support of venture capitalists like Andreessen Horowitz and Union Square Ventures.
The 27-year-old in question is Olaf Carlson-Wee, and he’s launching a strategy that invests in cryptocurrencies.
To be clear, the $10 million managed by Carlson-Wee’s Polychain Capital is peanuts in the hedge fund world. But Polychain’s strategy is rare, with few other funds trading in cryptocurrencies. Most hedge funds trade stocks, bonds, and currencies, with variations of different strategies.
So what is a cryptocurrency?
A cryptocurrency is basically a digital, encrypted currency that is decentralized, so read more >>>