Patrick O’Shaughnessy vividly recalls the week he was introduced to the world of cryptocurrencies. O’Shaughnessy, a manager at his family’s $ 6 billion quant asset manager of the same name, was chatting with one of his analysts over lunch at the beginning of this year about what they did over the weekend. “He told me he bought a bunch of cryptocurrencies: ether, bitcoin, and litecoin,” O’Shaughnessy told Business Insider. “And I was like, ‘What the…"A manager at a $6 billion quant fund gives the best intro to cryptocurrencies we’ve heard"
There are still some question marks about whether bitcoin is in a bubble. But the speed of its price growth is already nearly unmatched. The cryptocurrency has surged 162% in very volatile trading this year amid continued demand. But as the chart below illustrates, bitcoin’s longer-term rally by as much as 1,000% was swifter than homebuilder stocks in the lead up to the housing crash. Jeffrey Kleintop, the chief global investment strategist at Charles Schwab, said that “the…"Bitcoin’s ‘bubble’ is unlike anything we’ve ever seen"