pythagoras

ChainCatcher news, according to Bloomberg, the Alpha Long Biased strategy fund under investment management company Pythagoras has performed remarkably since its launch, with a year-to-date increase of 230% (206% after fees), consistently outperforming Bitcoin except for two months. The fund was launched a few weeks before the approval of the spot Bitcoin ETF in January 2024.The fund's investment portfolio employs a tri-partite allocation: one-third is allocated to core Bitcoin holdings, one-third utilizes a trend-following strategy (which can flexibly adjust to 2x leverage based on market conditions), and the remaining one-third is allocated to market-neutral, beta-neutral, and dollar-neutral long-short strategies. The fund's founder, Mitchell Dong, stated that the product aims to provide investors with an investment option superior to the spot Bitcoin ETF.

ChainCatcher news, Pythagoras Investments Capital Formation Director Semir Gabeljic stated that Bitcoin's drop to $65,000 is primarily attributed to the recent macro outlook on interest rates and rising government bond yields, as a higher interest rate environment typically reduces investors' risk appetite.