Wall Street Legend Steve Cohen Turns to Cryptocurrency: Firmly Embraces the Blockchain Boom

Billionaire investor Steve Cohen recently declared his firm stance on the cryptocurrency market. The hedge fund leader stated that he is delving deeply into the crypto space and emphasized that he has fully embraced this emerging investment trend. Although he missed out on the early stages of cryptocurrency development, Cohen is now determined not to let this opportunity slip away again.

Steve Cohen is the current Chairman, CEO, and President of Point72 Asset Management. As of the first half of 2025, Point72 manages assets worth up to $22.1 billion, with a global presence in 12 offices and over 1,650 employees, making it a major player in the asset management industry.

No More Missed Opportunities: From Early Observation to Active Positioning

In a recent interview, Steve Cohen openly admitted that his decision is clear—entering the cryptocurrency market is inevitable. “I am doing in-depth research on cryptocurrencies, and I fully embrace them,” he said. The investment master further shared his investment philosophy: “There’s an old saying at the card table—you have to spend money to learn; there are no shortcuts. You can speak freely, but ultimately, you have to get in the game yourself.”

He pointed out that there is never a so-called “best time to enter” in cryptocurrencies. “I don’t know if these assets will continue to rise,” Cohen candidly said, “but I already feel I missed the early stages. Now, I firmly believe that it’s still too early to enter.” This attitude highlights his confidence in long-term opportunities.

Point72’s Crypto Strategy: Taking Practical Actions to Follow Market Trends

Point72’s moves are no longer just talk. By mid-2025, the firm had written to shareholders indicating that the global cryptocurrency market, valued at up to $2 trillion, cannot be ignored, and decided to “massively” enter the space. This decision was not made impulsively but based on rational judgment of the current market conditions.

Competitor Millennium Management has already established a presence in the crypto space, engaging in futures and ETF trading. Facing this landscape, Point72’s hedge fund and private investment divisions have also launched their crypto strategies, adopting flexible long and short positions.

Cohen expressed his vision of building a cryptocurrency investment system within Point72. “I hope we can start building something inside Point72. We are beginning to seriously consider this,” he said, revealing that the company already has a clear strategic plan.

Blockchain Technology Is the Focus: Beyond Bitcoin Investment Perspectives

Notably, Cohen is not particularly enthusiastic about Bitcoin itself. “Forget Bitcoin, I don’t care about Bitcoin,” he said straightforwardly. “I am more concerned with the technology behind blockchain and its transformative and disruptive potential.” This view underscores his deep understanding of the technological essence as a seasoned investor.

He believes that the development of the crypto market can interestingly integrate with Point72’s existing operational focus. “So, I won’t miss this anymore,” Cohen emphasized. “These trends could spark new ideas and innovations in our current business model.”

Moderate Betting, Step-by-Step: An Investment Master’s Risk Management Philosophy

Cohen’s investment approach demonstrates the maturity of a seasoned fund manager. He candidly stated, “At first, I might seem very foolish, but you need to adjust your position sizes accordingly, try to learn the rules of the game, and when you have enough confidence, elevate it to a new level.”

This reflects his core risk management principle—progressively building experience and confidence rather than going all-in at once. Cohen considers cryptocurrencies one of the things he “looks forward to and is willing to take risks for,” but this risk-taking is not reckless; it is based on well-thought-out strategic foundations.

This shift by the legendary Wall Street investor marks a significant change in mainstream capital’s perception of cryptocurrencies and blockchain technology. Through tangible actions at Point72, Cohen not only demonstrates his personal investment conviction but also signals a broader trend of traditional financial institutions embracing emerging asset classes.