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The $17.6 billion hedge fund holds an unknown amount of cryptocurrency through crypto exchange Coinbase’s custody arm.
Days before the rout began, Palihapitiya, a 44-year-old with a flair for self-promotion, proclaimed he was poised to be the Buffett of his generation.
One of the starkest displays of changing tastes came last month, when investors poured about $20 billion more into equity funds than they did bonds.