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?

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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