On November 12, COINOTAG News reported that Verde Asset Management, a prominent hedge fund based in Brazil, revealed the initiation of a small **Bitcoin** position ahead of the U.S. presidential election on November 5. Although the exact **size** of this investment was not disclosed, the fund is under the leadership of seasoned industry expert Luis Stuhlberger. Performance metrics indicate that Verde’s main fund experienced a decline of 0.18% in October, after accounting for fees, contrasting with a 0.93% increase in the CDI interbank benchmark interest rate during the same timeframe. Additionally, local hedge funds posted a modest rise of 0.29%. Year-to-date, Verde has outperformed the **Anbima Hedge Fund Index** by more than two percentage points. Currently, the fund is managing assets totaling around **19 billion reais** (approximately 3.3 billion dollars), a slight decline from the previous month’s **20 billion reais**.
Source: https://en.coinotag.com/breakingnews/verde-asset-management-makes-strategic-move-with-bitcoin-ahead-of-u-s-election/