$10 Billion Hedge Fund Evaluating Bitcoin Exposure

Balyasny Asset Management, a multi-strategy investment firm created by former day trader Dmitry Balyasny, is exploring a Bitcoin bet, according to a report by The Street.

The Chicago-based hedge fund firm has over $10 billion worth of assets under management.

After its disastrous performance in 2018, which was the first down year for Balyasny, the firm managed to weather the pandemic-induced crash in 2020 because of its diversified portfolio.

The report says that the hedge fund is currently doing due diligence on Bitcoin and other digital assets.

Bitcoin is currently changing hands at $55,155 on the Bitstamp exchange.