RATE Group | Renaissance Technologies may get into Bitcoin trading (Cryptocurrency:BTC-USD)
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Renaissance Technologies may get into Bitcoin trading (Cryptocurrency:BTC-USD)

18 Apr Renaissance Technologies may get into Bitcoin trading (Cryptocurrency:BTC-USD)

Posted at 13:41h in Bitcoin News by

Renaissance Technologies’ famed Medallion Fund has gotten regulatory permission to begin trading in Bitcoin (BTC-USD) futures.

Before getting the idea that Jim Simons and team are hodlers, understand that they don’t have a bull or bear position on assets, but instead use a purely computerized system to rapidly move in and out of trades.

“The computer runs itself and we hardly ever interfere, the machine tells us what we should do,” a source tells the WSJ‘s Greg Zuckerman. “Every experience we’ve had shows that humans mess up worse than machines.”

According to Zuckerman, the fund is ahead a whopping 24% YTD through April 14, including a 10% gain in March.

Since 1988, Medallion has averaged annual gains of 39% after fees.

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