Billionaire Alan Howard has sold a small personal stake in the cryptocurrency company and plans to reinvest the proceeds in Brevan Howard Digital, Bloomberg reported, citing people familiar with the matter. Alan Howard is the co-founder of Brevan Howard Asset Management.
The shares sold include stakes in custody company Copper and broker Bitpanda, and Howard plans to reinvest the proceeds into Brevan Howard's digital assets unit if an acceptable offer is received, people familiar with the matter said. The size of the stake or estimated potential value has not been disclosed.
Another anonymous source said Brevan Howard Digital plans to add more capital to its existing strategy and launch new asset management products and services in the coming months.