ASX fund manager turns to bitcoin for returns

Bitcoin and other cryptocurrencies have not enjoyed a solid reputation as a ‘stable’ asset class, or even as an asset at all. Warren Buffett’s right-hand man Charlie Munger even famously referred to bitcoin as worthless, artificial gold, rat poison and, er.. excrement.

Even though cryptocurrencies have been around for more than a decade (with the past few years pushing them into the mainstream), they remain outside the realm of conventional ASX investing vehicles like managed and exchange-traded funds (ETFs). Possibly hindering this elevation is the infamous volatility of the cryptocurrency scene, as well as controversy arising from the decentralised, stateless nature of the assets themselves.

However, we could be seeing a…