Why a Fund Manager Left BlackRock to Trade Bitcoin and Pudgy Penguins NFTs
Jennifer Thornton left her role at BlackRock in 2021 to join Bitwise, a crypto-focused asset manager, where she now manages unconventional investments such as the Bitwise Blue-Chip NFT Index Fund. In her previous position at BlackRock, she specialized in risk-off assets like government bonds, but she found more opportunities in the rapidly evolving crypto space. Thornton emphasizes the influx of talent from traditional finance into the cryptocurrency industry, noting the growing acceptance of crypto as a legitimate asset class among institutions. As of 2023, the crypto industry employed around 199,000 people, with expectations of growth as more corporate entities enter the market. Unlike traditional financial markets with limited trading hours, the crypto space operates around the clock, demanding precision in asset management. Thornton acknowledges the distinct differences between crypto and traditional finance, yet aims to apply the same rigorous investment strategies to manage cryptocurrency portfolios effectively. As people increasingly adapt their skills and knowledge to the growing crypto industry, professionals like Thornton play a crucial role in bridging the gap between the two realms.
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