For any new industry to grow, crowdfunding alone cannot be the answer. It is essential for the industry to find structured financing. Hedge Funds fulfill the structured funding requirement for blockchain startups, almost effortlessly. Today, even the more traditional asset management firms are starting to open up to the potential of the blockchain economy.
We have seen a trend since early last year where an increasing number of traditional hedge funds are either adding cryptocurrencies into their portfolios or exploring the possibility of adding it. The large swings of the cryptocurrencies’ market, which were considered to be their biggest drawback, have helped some of those risk-taking hedge funds celebrate more than 1000 percent return. Case and point, Altana Digital Currency Fund posted an outstanding 1,496% return in 2017.
The market is so lucrative that just last week the world’s largest asset manager – Blackrock, announced their official interest in the technology of blockchain and the trading of cryptocurrency. As the Bitcoin prices cross $8000 today, it is in part due to such news items. Blackrock’s interest in cryptocurrency has in fact acted as an endorsement for the market.
On the flip side, we have people like hedge fund billionaire and Citadel CEO, Ken Griffin, who cannot get tired of pulling the blockchain economy down. He had famously stated that cryptocurrencies, in particular, and blockchain at large are “solutions in search of a problem”.
This is a new era in acceptance of cryptocurrencies, and it is the Crypto Hedge funds that will back the next big idea.
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