Zhu Su changed his investment list
Zhu Su, co-founder of Three Arrows Capital, has deleted ETH, AVAX, LUNA, SOL, NEAR, MINA and other Tokens in his personal introduction on Twitter.
However, at the time of writing, Zhu Su has not revealed any information about this change.
On May 27, the CEO of hedge fund Three Arrows Capital posted on Twitter: “Supercycle price thesis was regrettably wrong, but crypto will still thrive and change the world every day.”
The “Supercycle” is a prediction made by Zhu Su in January 2021, claiming that the cryptocurrency market will grow long-term and not experience a major correction. The founder of Three Arrows Capital also claims that the Bitcoin (BTC) price will reach the $2.5 million mark in this super cycle, bringing the market capitalization to par with the metal gold.
Even so, the BTC price has dropped from $50,000 in January of last year to only about $28,000 by the end of May 2022. The highest price reached by the world’s largest cryptocurrency was $69,000 in November 2021. BTC is currently recording 8 consecutive weeks of red candles – something that has never happened in its 13-year history – and is on track to set a new record of 9 weeks of red candles overlapping red.
Three Arrow Capital
Zhu Su and Kyle Davies founded Three Arrows Capital (3AC) in 2012 and focused on finding high returns with little risk.
For starters, Three Arrows Capital is not a crypto investment fund but a fund that invests in assets such as currencies (also known as forex speculation), looking for arbitrage trading opportunities in the forex market, and finding options on derivatives brokers.
Three Arrows Capital’s investment strategy targets emerging asset markets, especially cross-border asset markets.
Kyle Davies said in an interview that he believes in the potential of cross-border financial markets with the emergence of new asset classes and different types of assets accessible to more people. He believes that Three Arrows Capital can profit from the accessibility of these assets, as these assets will quickly grow above other assets.
Around 2013, they began to pay attention to the crypto market and became a speculative fund in the market searching for arbitrage trading opportunities. Gradually, they arbitrage and participate in long-term investment and early investment in projects in the market.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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