Two Oxford University MBA Graduates Set Up Crypto Hedge Fund

Two Oxford University MBA Graduates Set Up Crypto Hedge Fund

Two MBA graduates from Oxford University have reportedly launched a crypto hedge fund to invest in a wide range of virtual currencies and blockchain technology. The duo, who are crypto enthusiasts plans to invest in crypto-protected assets, a number of decentralized applications, crypto-related fintech initiatives, crypto tokens and much more.

Similarly, four students and tech entrepreneurs from Harvard University have teamed up to cash in the crypto hedge funds. The 19-year Bushra Hamid from Syria has teamed up with three other collegemates to set up Plympton Capital, a crypto hedge fund to invest in multiple digital currencies. Hamid stated that they intend to launch the project in the next six weeks and they will commence with $1 million. The group has already raised $700,000 from friends and relatives.

Though most tech-savvy entrepreneurs have focused on crypto assets, a hedge fund is still a new concept on the market. There are only 226 funds launched so far and most of them were opened up last year.

According to the research findings from Autonomous Research LLP, most Funds may not survive for long but despite that, more funds are being launched particularly by young people in their 20s. For instance, the Plympton group is targeting the youths across the globe. A recent online survey conducted by Harris Poll of Blockchain Capital has revealed that about 4% of millennials between 18 and 34 years old have already invested in Bitcoin (BTC) and more are planning to buy crypto assets in the next five years.

Plympton intends to utilize technical analysis, portfolio optimization, machine learning, and other arbitrage opportunities to search for the suitable crypto assets for investment. According to John Lore, the attorney who helps the new fund managers to raise funds for investment, it requires a lot of money to run a fund project. Hence one must target at least $25 million to $50 million to gain any profit.

BTC continues to trade low since last year where it attained the $10,000 mark. The lows are still persisting and most investors are getting concerned with the slowdown trend for the leading cryptocurrency.

However, the cryptocurrency market is expected to grow rapidly this year. A recent survey conducted by Thomson Reuters shows that about 20% of the financial institutions could jump into the digital currency trading in different times of the year.