Bloomberg: David Bailey persuaded Trump to support cryptocurrency, and his hedge fund achieved a 640% net return within a year

ChainCatcher news, according to Bloomberg, a key strategist behind the lobbying effort that transformed Donald Trump into the most powerful supporter of cryptocurrency is making a big bet in one of the hottest areas of the industry and has achieved astonishing returns.

According to insiders, David Bailey's hedge fund 210k Capital achieved a net return of 640% over the 12 months ending in June, far exceeding the rise of Bitcoin itself. The fund has invested in about a dozen companies that have transformed into Bitcoin buyers. As of June 30, 210k Capital's assets under management totaled $433 million.

Tyler Evans, the managing partner of 210k Capital, stated in an interview on July 15 that the company is considering an additional 30 investments in existing and potential Bitcoin proxies.