Billionaire Investor Betting on Bitcoin and Cryptocurrency

Wall Street legend Henry Kravis, co-founder of the private equity firm KKR & Co., is the latest prominent figure to invest in blockchain and cryptocurrency.

Kravis is investing in a cryptocurrency fund provided by ParaFi Capital, reports Bloomberg. He joins fellow billionaire investors Peter Thiel, Alan Howard and Louis Bacon, who have all placed bets on cryptocurrency and blockchain technology.

ParaFi Capital founder Ben Forman says the risky and volatile world of cryptocurrency offers a virtually unparalleled upside for investors.

“In the high-yield markets, I used to fight to outperform the index by tens of basis points. Crypto, on the other hand, due to its nascency, offers a tremendous amount of alpha to active managers.’’

Forman used to work at KKR & Co., which currently has $190 billion in assets under management. He left the firm in 2018 to focus on blockchain and cryptocurrency full time.

“While I toyed with the idea of pursuing blockchain investing within KKR, it was clear to me that the firm did not provide the optimal format to do so. Instead of pursuing crypto at KKR, I wanted to build the KKR of crypto.”

ParaFi has invested in the leading US crypto exchange Coinbase, the Ethereum-based project MakerDAO and the transportation, logistics and financial services app Grab.

About Howard Mahere

I'm a Bitcoin/Cryptocurrency enthusiast !
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