During a great year for cryptocurrencies, hedge funds focused on digital assets unsurprisingly did very well, too. It’s just that many didn’t do as well as the industry’s most famous token: Bitcoin.

Crypto hedge funds had a strong year in 2024, gaining from their exposure to digital assets. However, Bitcoin’s rise to over $100,000 outpaced most crypto

Several crypto hedge funds saw positive returns last year, but none could match Bitcoin's remarkable performance, which surged 120% to surpass $100,000 for the first time.

Bitcoin rose modestly early Wednesday after investors reacted to the latest U.S. inflation reading. The world’s largest cryptocurrency was up 2.7% over the past 24 hours to $98,863, according to CoinDesk data.

Bitcoin has changed direction after weeks of retreat during which crypto investors dumped risky assets. The cryptocurrency rose 4% in the past 24 hours to $100,000 immediately following the release of closely-watched inflation data.

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