Bridgewater Associates Prepares To Back Its First Crypto Fund: Report

Bridgewater Associates, the world's largest hedge fund, is reportedly planning to back a crypto fund for the first time.

A CoinDesk report said that the firm is planning to back an external vehicle and has no current intention of directly investing in crypto assets itself.

As per the sources quoted by the CoinDesk report, the size of Bridgewater’s investment is minuscule compared to its total assets under management of $150 billion.

“Bridgewater is looking to get involved. They are doing serious diligence: liquidity, service providers and whatnot," another source familiar with the hedge fund’s crypto trading plans told CoinDesk.

The hedge fund is founded by billionaire Ray Dalio who is a Bitcoin bull. Dalio said in December that Bitcoin is almost an alternative to gold for the younger generation.

The billionaire investor also disclosed he had made a personal investment in both Bitcoin and Ethereum, without revealing exact amounts.

“The one thing I would say to investors is don't judge anything in your returns or your assets in nominal terms, in terms of how many dollars you have. View it in terms of inflation-adjusted dollars," he said at the time.

Bridgewater is not the only hedge fund tapping into the crypto sector. There are several hedge fund managers who are foreseeing immense opportunities in the industry.