Coatue Founder: Bitcoin Will Become a More Central Asset in Investment Portfolios
Philippe Laffont, founder of hedge fund giant Coatue Management, stated at the New York cryptocurrency summit that although investors may have been deterred by Bitcoin’s early volatility, its volatility has decreased over time, which means the cost of investing in Bitcoin is dropping. The acceptance of Bitcoin by institutional investors is also a sign of the cryptocurrency’s maturation. In addition, the number of Bitcoin wallets that have held cryptocurrency for at least a month and then sold all their holdings has dropped significantly, indicating that investors are holding cryptocurrencies for the long term rather than trading them. Of course, at this stage, Bitcoin still accounts for only a small proportion of global net assets (about $2 trillion out of $500 trillion). If Bitcoin is to be regarded by more people as a store of value, it must become a more central asset in investment portfolios. For investors who value Bitcoin, Philippe Laffont advises not to let Bitcoin occupy too large a proportion of the portfolio to the extent that it becomes the driving factor of the entire portfolio.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Micron expands stock repurchase plan to 35.16 billions USD
Micron Technology's board of directors has approved an expanded stock repurchase plan, which will take effect starting in December. According to Micron’s 10-K filing, the board “approved increasing the maximum amount of common stock that may be repurchased at the company’s discretion to $35.16 billion, effective December 9.” Previously, Micron had approved a $10 billion stock repurchase program, of which approximately $2.2 billion remained unused.
Dow Jones rises 0.83%, S&P 500 rises 0.59%, Nasdaq rises 0.64%
The Dow Jones closed up 0.83%, the Nasdaq rose 0.64%, and the S&P 500 gained 0.59%. Among the most actively traded stocks, Micron Technology fell 0.66%, Nvidia declined 0.52%, SpaceX increased 1.25%, and Tesla rose 2.05%.
Hurricane Isaias approaches, causing 72% of crude oil production in the Gulf of Mexico to halt
As Category 3 Hurricane Isaias approaches the U.S. Gulf Coast, local oil producers have suspended around 1.46 million barrels per day of crude oil production, accounting for 72% of the region's total output. According to the U.S. Bureau of Ocean Energy Management, as of 12:00 p.m. Eastern Time on Friday (midnight Beijing time on October 10), workers have been evacuated from 129 offshore platforms, and two mobile drilling rigs have been relocated out of the storm's path. BP has shut down production at the Thunder Horse and Na Kika platforms and evacuated non-essential personnel from three other platforms. The supply interruption has pushed Gulf of Mexico crude oil prices higher, with Mars crude currently carrying a premium of about $3 per barrel over WTI crude, and Thunder Horse crude maintaining a premium of more than $4 per barrel for two consecutive trading days.
Google internally tests AI model Carbon, employees say its programming capabilities rival Claude Opus 5.5
According to Business Insider, Google (GOOG.US) is internally testing a new AI model called Carbon, and employees say its programming capabilities are comparable to Claude Opus 5.5.
Crypto prices
More
