Pythogoras’ Funds Gain 8% Amidst Commotion in Crypto Space
Pythogoras’ Funds Gain 8% Amidst Commotion in Crypto Space
- Peter Went tweeted about Bloomberg’s report on Pythagoras’ hedge funds’ gain this year.
- In the midst of continuous losses in the entire crypto world, two hedge funds of Pythagoras had an 8% gain.
- Arbitrage funding and the analysis of market trends have contributed to the gain.
Peter Went, the Senior Director of CFA Institute tweeted about the Pythagoras Investment Management’s performance gains amidst the crypto market collapse, as reported by Bloomberg.
As per the reports, the Pythagoras Investment Management’s two funds, namely, Market Neutral Fund and Pythagoras Token Fund had gained almost 8% each this year.
Since the once-leading crypto exchange FTX filed bankruptcy, the whole crypto world had been facing serious losses and crashes as traders were suspicious about the security of digital assets. Even the largest digital currency bitcoin had declined almost by 60% this year.
The Chief Executive Officer of Pythagoras commented that the market-neutral fund uses arbitrage, which allows the company to make a profit by buying at low prices and selling at high prices.
On the other side, the trend-following fund makes use of technical indicators to analyze the short-term trends in the market:
The CEO of Pythogoras stated:
The post Pythogoras’ Funds Gain 8% Amidst Commotion in Crypto Space appeared first on Coin Edition.
See original on CoinEdition
