Bloomberg: David Bailey Convinced Trump to Support Cryptocurrency, His Hedge Fund Achieved 640% Net Return in 1 Year

BlockBeats News, July 18th: According to Bloomberg, a key organizer of the lobbying efforts that turned Donald Trump into one of the most prominent supporters of cryptocurrency is now betting big in one of the hottest sectors in the industry and has reaped astonishing rewards.

According to sources familiar with the matter, David Bailey's hedge fund, 210k Capital, achieved a 640% net return in the 12 months ending June, far outperforming Bitcoin itself. The fund invested in approximately a dozen companies that have pivoted to become Bitcoin buyers.

As of June 30th, 210k Capital had assets under management of $433 million.