Global Fund for Digital Currency Investments launched

In an exciting development in the cryptocurrency ecosystem, Alphabit, global fund registered in Dubai and the Cayman Islands, has been launched with a target of $300 million.  “Managers seek to tap growing demand for virtual assets that allow for instant, borderless transactions” co-founder Liam Robertson said in an interview with Reuters.  A formal launch of the fund will take place in September 2017 after the fund shows a 6 month track record.


Digital currencies such as Bitcoin are issued and usually controlled by its developers, and are used by members of virtual communities. The sector’s market capitalization has surged more than 60 percent so far this year, and nearly 260 percent over the past 12 months, to nearly $30 billion, according to  A handful of digital currency funds have emerged over the past year, including Polychain Capital, which has raised about $15 million from venture capitalists and investors the last few months.


“As you see the digital currency market progress and grow, we have seen professionals come to the market, allowing the sector to become a more streamlined and professional space,” Robertson told Reuters. “The sector is now in a great position to further strengthen and grow.”  


Robertson is very bullish for the fund and said they would be very surprised if they don’t get a return of at least 100% for the year. 


Read Full article here – New global fund to raise $300 million for digital currency investments


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