BlockTower Capital, a digital asset hedge fund, managed to more than double its lifetime return in the first four months of 2020, according to investors and documents reviewed by CoinDesk. This news comes a day after Goldman Sachs denounced cryptocurrencies as an investment.
Meanwhile, Samsung and Minecraft have rolled out new blockchain integrations and Russia is mulling appending mortgage documents to its national distributed ledger. Here’s the story:
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Digital vs Traditional Assets
BlockTower Capital’s hedge fund has returned 33% profits in the first four months of 2020, two BlockTower investors said. Despite the havoc coronavirus wreaked on markets, the fund did better in those four months than the stock index did in any full year since 1997. And as a result of the climb, the fund returned 73% for those who invested from day one and held on through to last month. MaiCapital has launched the “Bitcoin+ Investment Fund,” an actively managed, quant-driven hedge fund to track bitcoin’s performance. (The Block) Yet, Goldman Sachs analysts noted yesterday that while cryptocurrencies like bitcoin “have received enormous attention,” they “are not an asset class.”
Blockchain Integrations: Minecraft & Samsung
Minecraft, one of the world’s most popular video games, has a new plug-in enabling players to place blockchain assets directly into their servers. While Samsung Blockchain users in the U.S. and Canada can now connect to Gemini’s mobile app to buy, sell and trade crypto after the companies built an integration between the two applications.
Investments and New Offerings
Genesis Global Trading has launched a derivatives trading desk to be led by former Galaxy Digital staffer Joshua Lim. The new derivatives desk will…