Wall Street legend Henry Kravis, co-founder of the private equity firm KKR & Co., is the latest prominent figure to invest in blockchain and cryptocurrency.
Kravis is investing in a cryptocurrency fund provided by ParaFi Capital, reports Bloomberg. He joins fellow billionaire investors Peter Thiel, Alan Howard and Louis Bacon, who have all placed bets on cryptocurrency and blockchain technology.
ParaFi Capital founder Ben Forman says the risky and volatile world of cryptocurrency offers a virtually unparalleled upside for investors.
“In the high-yield markets, I used to fight to outperform the index by tens of basis points. Crypto, on the other hand, due to its nascency, offers a tremendous amount of alpha to active managers.’’