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Seeking Alpha 2021-06-15 14:21:12

Bitcoin roundup: Stan Druckenmiller and Dan Loeb invest in Bitwise

Crypto financial services firm, Bitwise Asset Management has raised $70M at a $500M valuation, reports Coindesk. Among the well-known investors partaking in the funding round are Daniel Loeb, Stanley Druckenmiller, Blackstone's Nadeem Meghji, and Bridgewater's David McCormick."We wanted to get some of the best minds, investors and backers across Wall Street and crypto involved with the company because we see an opportunity to build an enduring institution," says Bitwise CEO Jack Horsley, appearing on CNBC.Bitcoin (BTC-USD) continues to hang near the $40K level for a 2nd day after firing at overhead resistance of $42K overnight, but quickly falling back.Although Bitcoin is still about $25K below its April peak, legendary players like Dunkenmiller and Loeb see the long-term growth prospects for crypto financial service entities like Bitwise. The company intends to use the fresh funds to continue partnering with financial advisory firms to sell more crypto-related products into what is a

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