Crypto, With Crash Helmets: Hedge Funds Exploit Bitcoin Mania

Amid Bitcoin’s soaring price, some 100 hedge funds now exist to invest in digital currencies. Will institutional investors come along for the ride?

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Illustration by Doug Chayka

Jamie Dimon, CEO of JPMorgan Chase & Co., may think that Bitcoin is a fraud, but that’s not stopping hedge funds and other institutional investors from pouring money into the virtual currency.

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