By Hassan Mehmood (Saudi Arabia)
Alan Howard, who is the founder of the Brevan Howard hedge fund, is no ordinary personality in the United Kingdom and has been serving as the managing director of the said hedge fund almost all his life. Recently as the crypto market has boomed and the adoption rate for cryptocurrency goes over the moon because of financial institutions finally coming around its importance and demand by the consumers, Alan Howard is also seeking to adopt cryptocurrency. The adoption here purely means facilitating his clients, which are multiple businesses and enterprises with crypto-related services. All of which will be done through his company Elwood.
Following this massive adoption wave, the company Elwood has invested about 1.5% of its main fund into procuring cryptocurrency. The trend has been somewhat popular with multi-conglomerate businesses and the likes of Elon Musk and other influencers, but various hedge funds have also dived into the area of cryptocurrency and are seeking it as a hedge against inflation.
Howard is among the highest-ranking fund managers that are looking forward to investing heavily into cryptocurrency. But he is among those who are already investing in the idea of decentralization rather than only fantasizing about it, and that is a very pleasant trait with him.
Also read:Many banks in the UK were definitely against cryptocurrency when the trend was first soaring, but then they came around, and most of them are now offering cryptocurrency-related services to their diverse clientele. But many fund managers in the UK still seem to be against cryptocurrency, and many resolutions have been drafted even to ban crypto for good and not making it part of the fund.
But with Alan Howard backing up cryptocurrency being a UK fund manager himself, it is likely that the scales might just tip towards cryptocurrency’s side, and the rivals (most of the UK fund managers) might come off as the biggest proponents of the cryptocurrency. It is all a matter of time, and with Elwood planning to work keenly with cryptocurrency and offering crypto-related services to various other businesses, it is likely that the dark clouds hovering around cryptocurrency in the UK might just fade away.
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