Posted 1 year ago | by @devadmin

One River Asset Management a company that last year made a splash into the crypto markets pledging to purchase $1 billion in crypto has made one of the largest ever cryptocurrency investments, according to crypto exchange Coinbase.

One River has worked with crypto exchange Coinbase to invest an undisclosed amount in cryptocurrency. According to Coinbase, which carried out the transaction, its purchase represents “one of the largest digital asset trades in history.”

The initial trades were executed over a five day period at different speeds, in order to work through varying market conditions, the exchange explained in a blog post.

“The Coinbase institutional team provided exactly what we needed to execute this transaction discreetly,” said Eric Peters, CIO of One River.

One River Asset Management recently made history purchasing the largest cache of Bitcoin and Ethereum by a hedge fund with its eyes set on a $1 billion dollar fund. Last year, One River was one of the largest investors in Bitcoin and cryptocurrency thus far quietly buying more than $600 million in cryptocurrencies and joining forces with Alan Howard, the co-founder of Brevan Howard Asset Management, as Bitboy Crypto reported.

Eric Peters, who serves as the chief executive officer of One River Asset Management, told Bloomberg at the time in an interview he set up the new company to seize on the growing interest in cryptocurrencies among institutional investors.

“There is going to be a generational allocation to this new asset class,” Peters said. “The flows have only just begun.”

Another investor under One River Digital is Ruffer LLP, the U.K. investment firm also known for its own market strategies for volatility. Ruffer itself on Tuesday disclosed a 2.5% position in Bitcoin in one of its funds confirming a massive Bitcoin investment of $744m purchased in November shifting money from gold to Bitcoin. Ruffer stated its investment was “a small but potent insurance policy against the continuing devaluation of the world’s major currencies.”

Peters, states he was attracted to digital assets for the same reasons he predicts more volatility in financial markets, government fiscal spending which he feels will eventually cause inflation. So once again another institutional trader who believes that Bitcoin is a good hedge against fiat inflation. Peters joins the ranks of Michael Saylor, Mike Novogratz, and Paul Tudor Jones who all share the same mindset.

One River recently made its case for cryptocurrencies in a post on its website, entitled “The Case for Digital Assets.” In the blogpost, Peters  states his long term view that cryptocurrencies are the technology of the future.

“Owning these assets is a mere toehold to the future, a deposit on the view that everything we know about financial intermediation and its relationship to centralized policy will change in ways we cannot yet foresee,” Peters said.

“Holding these assets over the long-term aligns yourself with the macro mega-trends of technological advance and currency debasement, both of which appear to be accelerating. And naturally, where this all leads, and to what valuations, will be determined by our collective imagination,” he added.

Bitcoin is currently trading at {FIAT: $33,941.82] UP +7.6% in the last 24 hours according to Coingecko at the time of this report.