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 Coinmarket.com. 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
What are you doing to get involved in the new Digital Economy?
Bit-Media is proudly sponsored by BitVault
BitVault is the World’s first Blockchain phone – the most secure device on the market for Bitcoin transactions featuring 3IMS(Third Party Independent Multi-layer Security) enabling secure messaging, secure calling and much more. The biometric scanning makes your BitVault unique to you.
Pre-Launch of the World’s First Blockchain phone
Need more info?
Order during the Pre-Launch period or get on the Early Bird list to keep updated!
CLICK on the BitVault icon below now
Click on the icons below and download the Bit-Media app – it’s FREE!
Spend your Bitcoins by swiping your Cryptopay debit card or use the FREE virtual card for online purchases.
25% discount when you purchase Cryptopay debit card – CLICK HERE
Get a FREE BITCOIN EDUCATION and keep abreast of the news by following
Please leave your comments below