210k Capital Reports Record Returns Amid Crypto Policy Shift
A hedge fund helmed by entrepreneur David Bailey, 210k Capital, has reportedly generated substantial gains, driven by investments tied to the adoption of a pro-crypto policy stance by the U.S. government under President Donald Trump.
According to Bloomberg, which sourced the figures from an anonymous individual, the fund delivered a 640% net return over the past 12 months. This performance was largely attributed to stakes in publicly traded companies that added Bitcoin (BTC) to their balance sheets.
Bailey, a serial entrepreneur and founder of Bitcoin Magazine and BTC Inc., served as a crypto adviser to the Trump campaign. The fund operates privately, so its financials are not disclosed, but the anonymous source stated its primary wealth stems from Bitcoin treasury investments across the U.S., UK, Canada, Australia, and Sweden.
UTXO Management, the parent company of 210k Capital, confirms holdings in several Bitcoin-linked entities, including MicroStrategy (MSTR), Metaplanet (3350), Moon Inc. (1723), The Smarter Web Company (SWC), The Blockchain Group (ALTBG), Liquid Technologies (LQWD), H100 (H100), Matador (MATA), and DV8 (DV8).
Fund manager Tyler Evans told Bloomberg the firm is currently evaluating an additional 30 corporate proxies – companies operating within the Bitcoin ecosystem.
Since MicroStrategy began adopting Bitcoin as a treasury asset in late 2020, hundreds of companies have followed suit. Industry data indicates over 150 firms are holding Bitcoin, with public holdings alone currently amounting to roughly 868,700 BTC, while estimated private holdings total around 292,355 BTC.
While Bitcoin’s recent price surge has boosted returns for Bitcoin treasury companies, analysts question their long-term prospects. Questions persist about whether these holdings provide meaningful strategic value or simply offer diversification benefits.
The ongoing cryptocurrency regulatory debate continues to shape the landscape, as evidenced by recent legislative moves. Last month, the Republican-controlled House passed three significant crypto-related bills concerning stablecoins, market structure, and a central bank digital currency ban.
