Hedge Fund Vet Dan Tapiero Invests Over $650M In Crypto Firms

The mainstream adoption of Bitcoin and crypto is going great and the digital assets have been growing in popularity especially this year and back in 2020.

The world has been faced with the most severe crisis and during such terrible times, the popularity of cryptos has been on the rise.

Now, it’s been revealed that the number of crypto unicorns — those valued at above $1 billion — is growing at a really fast pace, drawing the interest of investors like Dan Tapiero.

Hedge fund vet Dan Tapiero has invested more than $650 million into crypto’s largest companies https://t.co/Z0j7YMtf8y

— unfolded. (@cryptounfolded) September 14, 2021

Tapiero is a veteran of the macro trading world, and he launched 10T in 2019 as a vehicle for traditional investors to get exposure to equity in crypto firms with a valuation above $500 million.

The online publication The Block Crypto notes that such an investment might not provide the 100x return a venture capital investor might look for when flipping a token.

But. on the other hand, this is a less risky way for pension funds and endowments to get exposure to crypto.

Here’s what he had to say:

“They’re comfortable with private equity and these companies—many of which have $100 million of revenue.They are businesses at scale with moats around them. There isn’t any risk that they will disappear.”

“Within six weeks of our valuation, Kraken had gone up 3 to 4 times,” Tapiero said. “eToro went up around 5 to 6 times. I’ve never seen anything like that.”

At the moment of writing this article, BTC is trading in the green and the king coin is priced at $45,968.38.

The price of Bitcoin dropped at the end of the past week, but whales are definitely not freaking out.

On the contrary, they are accumulating BTC and buying this dip, according to the latest reports.