Groupthink focuses on the movements of billionaire investors like Warren Buffett… or Bill Ackman… or Carl Icahn.
But a lesser known old-school billionaire has invested in a cryptocurrency fund run by ParaFi Capital—one of the first of many Wall Street legends sure to invest in this space.
Henry Kravis is co-founder of the global juggernaut investment firm KKR & Company (KKR).
It’s a $20 billion-plus investment firm that invests in everything from private equity and real estate to leveraged buyouts and more through its funds. KKR has been around since 1976 and is one of the most recognized and respected firms on Wall Street.
And as Coindesk reports, Kravis is now making an investment in the crypto world.
This isn’t a “fire from the hip” diversification investment either. Henry’s playing it close to the vest. While the fund’s website simply states, “ParaFi Capital is an alternative investment firm with a focus on the fintech and blockchain ecosystem,” it’s run by founder and CIO (chief investment officer) Ben Forman.
Ben is a former employee of KKR. He left last year to pursue investing directly into the crypto world. As he noted in a 2018 interview with Bloomberg, Ben is setting out to build “the KKR of crypto.”
You’re always going to notice the billionaires who vilify crypto. After all, it makes for good headlines and clickbait.
But we’re still in the early stages of the crypto/digital securities revolution. The technology behind cryptos and digital assets (blockchain) is changing the way entrepreneurs and investors raise and allocate money.
It’s great to see an influential billionaire like Kravis get into the game. But there’s a lot of money on the sidelines waiting to invest… and you can be sure other big money players will soon follow his lead.
I recommend getting some exposure before the institutional money does…