Questions? +1 (202) 335-3939 Login
Trusted News Since 1995
A service for banking industry professionals · Sunday, June 20, 2021 · 544,286,018 Articles · 3+ Million Readers

Kennedy Mitchell, hedge fund manager, launches massive $250 USD Million dollar cryptocurrency unit

Veteran hedge fund trader Kennedy Mitchell has launched a $250 Million USD cryptocurrency trading program based on his technical trading strategies

NEW YORK CITY, NY, UNITED STATES, June 5, 2021 / -- Kennedy Mitchell, former CEO and Founder of Bedford Investment Group, and currently serving as Managing Member of Edgehill Investment Group LLC, has launched a very large $250 USD Million cryptocurrency fund. "The time is ripe" says Mitchell. He sees major short side opportunities, as well as upside in some select pairs. The new strategy is called Prometheus. It has a mandate to utilize up to 4x leverage, meaning its trading power in cryptocurrency would approach $1 Billion USD.

Mitchell made his name trading cash currencies for some of the largest hedge funds in the world over the past twenty five years, before striking out on his own. He stated that "in this environment, cash currencies have flatlined, well, if you can make 40% in a week in crypto why wouldn't they". His resume includes working for the largest funds in the world, and he utilizes completely technically based algorithms he designed since 2003 to identify imbalances and technical formations in markets that are proprietary.

Kennedy remains somewhat of an unknown name in major industry sectors, because he maintains a very low profile. Yet, according to sources he has managed a large sum of "out-sourced" capital for the largest money managers in the world who needed to off-load excess capital in seek of returns.

With the exception of a few lackluster flat line years, he did not disappoint, according to reports.

His new strategy for the crypto fund, he says, is "to exploit mass herd mentality and over positioned markets and take advantage of short term technical patterns based on 2-3 days of trading activity". His trading tactics are completely technically based, no fundamentals are in play. His capacity is limited in the new vehicle to approximately $800 USD Million, which would imply a trading capacity level, whether long or short, of USD $3.2 Billion USD.

Megan Wright
+1 917-221-7443
email us here

Powered by EIN Presswire
Distribution channels: Business & Economy

EIN Presswire does not exercise editorial control over third-party content provided, uploaded, published, or distributed by users of EIN Presswire. We are a distributor, not a publisher, of 3rd party content. Such content may contain the views, opinions, statements, offers, and other material of the respective users, suppliers, participants, or authors.

Submit your press release