Billionaire Steve Cohen on Crypto ‘I’m Fully Converted, I’m Not Missing This’

Billionaire Steve Cohen on Crypto 'I'm Fully Converted, I'm Not Missing This'

Billionaire hedge fund manager Steve Cohen has revealed he is now taking a deep dive into the cryptocurrency and said he is “fully converted” and doesn’t plan on missing the space’s progress in the future.

During an interview, as first reported by, Cohen shared his views on the nascent space and said he has an “old saying at the poker table, you got to pay to learn,” implying he will gain exposure to some cryptocurrency or basket of cryptocurrencies in the future, as you can “talk all you want, but you’ve got to get in the game.”

When asked when he would enter the cryptocurrency space Cohen, who owns the New York Mets and is the chairman, CEO, and president of Point72 Asset Management, which has over $22 billion in assets under management, said he did not know as he doesn’t know “if these things are going to go up” and the “timing is never good.”

He noted that he is hopeful Point72 will be able to “start building something” related to cryptocurrencies and that the firm is “in the process of starting to think about that.” The CEO is notably not keen to invest in BTC, as he said “forget bitcoin,” and added:

I don’t care about bitcoin. I care more about the technology behind the blockchain and how transformational it is and how disruptive it could be.

To Cohen, the way the cryptocurrency markets are developing “could be a real interesting adjacency to what we do at Point72.” The CEO added he is “not missing this,” and that he already feels like he “missed the first part of it” while feeling “like it’s early.”

The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.

Featured image via Unsplash

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