Cryptocurrency fund BXB Capital will launch a structure focused on investing in digital gold in July. The firm has committed 400 BTC (~$10M) from investors and plans to raise up to 1,000 BTC (~$27M). Fortune.
A feature of the structure is to raise capital, trade and ensure profitability exclusively in bitcoins.
The fund is co-founded by former Binance Korea co-founders Alex Friedberg and JJ Petersen. Initially, after the creation of BXB Capital, it focused on “kimchi premium” arbitrage, gradually adding other strategies.
“Investors are starting to shift the boundaries and are no longer just trying to concentrate capital in US dollars,” Petersen explained.
The top manager noted that many crypto investors want to reduce positions in fiat currencies. The fund will allow them to generate returns in bitcoin without resorting to lending or income farming.
“Essentially, you need to earn [больше] dollars to outpace inflation. If you receive more than the first cryptocurrency from transactions, you simply own the coins, increasing your percentage of the available supply. he explained.
Recall that Tether will begin to allocate up to 15% of profits for the purchase of bitcoin in order to diversify and strengthen the reserve portfolio.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!
Cryptocurrency fund BXB Capital will launch a structure focused on investing in digital gold in July. The firm has committed 400 BTC (~$10M) from investors and plans to raise up to 1,000 BTC (~$27M). Fortune.
A feature of the structure is to raise capital, trade and ensure profitability exclusively in bitcoins.
The fund is co-founded by former Binance Korea co-founders Alex Friedberg and JJ Petersen. Initially, after the creation of BXB Capital, it focused on “kimchi premium” arbitrage, gradually adding other strategies.
“Investors are starting to shift the boundaries and are no longer just trying to concentrate capital in US dollars,” Petersen explained.
The top manager noted that many crypto investors want to reduce positions in fiat currencies. The fund will allow them to generate returns in bitcoin without resorting to lending or income farming.
“Essentially, you need to earn [больше] dollars to outpace inflation. If you receive more than the first cryptocurrency from transactions, you simply own the coins, increasing your percentage of the available supply. he explained.
Recall that Tether will begin to allocate up to 15% of profits for the purchase of bitcoin in order to diversify and strengthen the reserve portfolio.
Found a mistake in the text? Select it and press CTRL+ENTER
Cryplogger Newsletters: Keep your finger on the pulse of the bitcoin industry!