In just a matter of two weeks, the number of crypto-related funds is rising rapidly than ever. It was only last week when Sam Cassatt of Aligned Capital made public his plans to create a $50 million bitcoin-related. Then, on 18th Nov. Michael Novogratz, CEO of Galaxy Digital, announced the launch of two bitcoin-related funds to provide financial services to the people of the age group 50 to 80. And now, Crypto Evangelist Roger Ver of Bitcoin.com accounted for his company’s plans to launch a $200 million Bitcoin Cash (BCH) investment fund, in 2020.
He did so at a news conference at a bitcoin Cash meetup in London, hosted by the globally recognized crypto wallet Blockchain.com. He further went on to say that the fund will provide payment solutions and non-custodial financial services for Bitcoin Cash. Furthermore, the fund will focus on payment gateways, processors remittances, and wallet acquirers. Although, the details are not finalized but hope to gather participation from institutional investors.
“We are super excited to launch the $200 million ecosystem fund that will rapidly scale up Bitcoin Cash focused businesses,” stated Bitcoin.com CEO Stefan Rust. “Bitcoin.com receives between 6 to 8 business plans every day from software entrepreneurs leveraging the unique features and capabilities of the Bitcoin Cash blockchain. Bitcoin.com now has the resources and team to support these BCH entrepreneurs, grow the value of their businesses and spread bitcoin cash adoption.”
Until now, around 20 institutional investors have shown willingness in Bitcoin.com’s vision and might invest. It has not been long when Bitcoin.com launched its crypto exchange, where users can trade not only Bitcoin and Bitcoin Cash but also many others like XRP, Litecoin (LTC) and EOS, among others. Such Funds are essential for the growth of Crypt-Industry, as they are mostly utilized either in making new ventures or for research and innovation.
The Crypto-industry is seeing a growing interest from Governments as well as executives from all sectors. One of the major turning points for the Crypto-industry would be the registration of Bitcoin ETF by the U.S. Securities and Exchange Commission. Many global events such as the Hong-Kong protest, Iran protests, and the Syrian crisis are an indication for people to opt for a better financial system.
Although, adjustments have to be made in the current models of cryptocurrencies, especially regarding the volatility of these currencies. Similarly, better and robust regulations will also restore trust among investors and the public in general, therefore, many predict that cryptocurrencies are going to gain a lot of value and they might last much longer than critics had predicted before.