Renaissance Technologies Seeps into Bitcoin World
Posted on 12/21/2020
Quant hedge fund giant Renaissance Technologies LLC (RenTec) runs a number of funds including the Medallion funds. In March 2020, the Medallion funds signaled a move to enter into bitcoin futures transactions, which Renaissance will limit to cash-settled futures contracts traded on the CME. The Medallion Funds trade in global markets and use leverage and high portfolio turnover in its strategies.
Renaissance Technologies also bought up shares of MicroStrategy, a company that bought up a bunch of bitcoin.
As its quant peers lose AUM, Renaissance Technologies AUM went from $130,944,659,841 at the end of December 2018 to $165,968,863,264 at the end of 2019.
