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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 378.35+2.7%Nov 10 4:00 PM EST

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To: TobagoJack who wrote (170348)4/10/2021 10:02:14 AM
From: Julius Wong1 Recommendation  Read Replies (1) of 217656
 
Bitcoin roundup: Dan Loeb's Third Point custodies with Coinbase, price climbs over $60K
Apr. 10, 2021 9:38 AM ET Bitcoin USD (BTC-USD) By: Stephen Alpher, SA News Editor 2 Comments

via Coindesk

Five of Dan Loeb's Third Point funds now hold cryptocurrency with Coinbase ( COIN), though it's not clear how much or in what form (i.e. coins themselves, derivatives, ...). Coindesk had earlier reported that Paul Tudor Jones is also a Coinbase client. In a call this week, the soon-to-be-public Coinbase disclosed a whopping $122B in institutional assets.

A few weeks back, Loeb tweeted about doing a "deep dive" into crypto, suggesting Third Point was either already invested, or on the cusp of doing so. Loeb is also a sizable investor in crypto broker eToro, which is going public in a SPAC deal with FinTech Acquisition Corp. V (NASDAQ: FTCV).

As for prices, it's too early to say whether Bitcoin ( BTC-USD) has truly broken out of its relatively tight $55K-$58K trading range of the past month, but the crypto did enjoy a Friday night/Saturday morning price surge to nearly $61K. It's currently changing hands at $60.1K.

Coinbase is going public via direct listing on April 14, and already has received a big price target increase.
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