Bloomberg: After David Bailey convinced Trump to support cryptocurrency, his hedge fund achieved a 640% net return in one year

PANews reported on July 18 that a key planner of the lobbying campaign that turned Donald Trump into the most powerful supporter of cryptocurrency is betting big on one of the hottest areas in the industry and getting amazing returns, according to Bloomberg. According to people familiar with the matter, David Bailey's hedge fund 210k Capital achieved a net return of 640% in the 12 months ending at the end of June, far exceeding the increase in Bitcoin itself. The fund has invested in about a dozen companies that have transformed into Bitcoin buyers. As of June 30, 210k Capital had $433 million in assets under management.

Tyler Evans, managing partner at 210k Capital, said in a July 15 interview that the firm is considering making an additional 30 investments in existing and potential Bitcoin brokers.