Hedge fund Parataxis recorded a 341% return in 2023 and once dipped BTC and SOL when it was oversold
On January 27th, according to Bloomberg, one of the four hedge funds operated by Parataxis Capital Management achieved a return rate of 341% last year after deducting fees. CEO Edward Chin chose to increase holdings in Bitcoin during the regional banking turmoil last year, when Silicon Valley Bank, Silvergate Bank, and Signature Bank collapsed. In addition, the fund also invested heavily in Solana. These two investments allowed Parataxis to outperform the market. Parataxis usually chooses to enter the market when overselling brings high liquidity.
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