Well-known U.S proprietary trading firms and venture capital companies are now in the buzz of buying cryptos amid the bullish trend playing out at the world’s fast-changing financial market.
Data retrieved from Messari researcher, Mason Nystrom, showed a top U.S proprietary trading firm, Jump Trading – with expertise in algorithmic and high-frequency trades and 700 employees globally, accumulating six DeFi cryptos quietly.
What you should know
- Jump Trading holds at least $75 million in digital assets and is the 8th largest holder of COMP (Compound) tokens behind a16z and Polychain. Jump bought 47K COMP in the past 7 days.
- Jump also holds KEEP (Keep Network), HXRO, NMR (Numeraire), OXT (Orchid), and MKR (Maker). Jump invested an undisclosed amount in Serum and owns 40m SRM (~$32m).
- Andreessen Horowitz, a popular American venture capital firm, owns amounts of the flagship crypto Bitcoin, Ethereum, Filecoin (FIL), Maker, Compound, Celo (CELO), Orchid, Arweave (AR), Keep Network, and Handshake (HNS).
What this means
The many global economic challenges prevailing around the globe which include the exponential rise of COVID-19, inflation, and the alarming plunge in value for most fiat currencies have made paper money an unreliable store of value, pushing these elite firms to store their value in a deflationary currency like crypto, which can help them to hedge against inflation and further used to preserve wealth.