Parataxis bets on crypto recovery with one of its funds posting a net return of 341% in 2023
Jan 27, - While most crypto funds failed to follow the rally in the bellwether Bitcoin last year, Parataxis Absolute Return Fund outperformed and was one of the few that succeeded. The hedge fund is one of four operated by Parataxis Capital Management, and the firm's chief executive Edward Chin said the fund posted a net return of 341 per cent last year, more than doubling Bitcoin's recovery in 2023. The fund also invested heavily in Solana, a token that took a hit after the bankruptcy filing of FTX's backer in late 2022, but jumped more than 900 per cent in 2023. "These two positions have allowed us to outperform the market," Chin said. "Maintaining liquidity and focusing on things that are thematically over-sold is the right stance to take."
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