Wall Street Prepares For Bitcoin And AI-based Hedge Funds
When it comes to bitcoin and AI, it is impossible to tell what the future will hold. A new breed of hedge funds is coming to Wall Street and other financial areas all over the world. Two new technologies are becoming the next area of focus: artificial intelligence and bitcoin. One interesting example is called Numerai, a hedge fund trading through machine learning models built by scientists paid in bitcoin. It is evident there is a growing demand to access the bitcoin ecosystem without having to buy cryptocurrency directly. On paper, it is not easy to grasp the concept of a bitcoin or AI....
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Interest in “Bitcoin” according to Google search data shows that the the world’s hedge fund capital tops all other places in the Tri-State area. Hedge Funds Paying Attention. The latest stats from Google trends reveal that most of the interest in Bitcoin for the Tri-State area (NY, NJ, CT) is coming from the greater Greenwich area of Connecticut. While the global uptick in Bitcoin interest was already covered, it appears to be in an upswing particularly in regions commonly associated with hedge funds and Wall Street. For instance, number two Hoboken, New Jersey is also home to many people....
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The bigwigs trading stocks on Wall Street have been upset this week as billion-dollar hedge funds have been crippled by Redditors and memes. Not too long ago, the firm Gamestop’s shares were plummeting, and Wall Street veterans lined up a mountain of short bets against the company’s stock. However, members of the Reddit forum called “Wall Street Bets” discovered the short positions, and subsequently turned things around by purchasing the stock and placing long positions on Gamestop’s shares. On Tuesday, Gamestop’s stock (GME) spiked well over 148%, as....