Hedge Fund Giant AQR Trades "Small Amounts" of Bitcoin

Cliff Asness, the billionaire co-founder of quantitative hedge fund AQR, said on social media that his hedge fund trades "a small amount" of bitcoin in a "purely alternative trend-following product". "The 'halving' story was too good to verify (so I did), and during the halving period, bitcoin's returns were high, but not unusually so," he wrote. Asness argues that many reports don't look deep enough into the data, and the hypothesis that halving would lead to higher returns is rarely tested. Asness reportedly holds a doctorate in finance from the University of Chicago and co-founded AQR Capital in 1998, which has grown to become one of the largest hedge funds in the world with $120 billion in assets under management.