It looks as if Silicon Valley and Wall Street are coming together due to see who can shower cryptocurrency ventures with more money.
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Blocktower Cardinal Crypto Hedge Fund
Blocktower Capital is a cryptocurrency hedge mine money headed by former Goldman Sachs vice president Matthew Goetz. The new advance was only launched in August 2017 and has already said to have prodigal about $140 million.
Investors in Blocktower reportedly include family tree offices and other entities such as venture capital firms such as Amalgamation Square Ventures LLC and Andreessen Horowitz.
Some of the raised funds were manifestly redirected towards boosting the company’s staff, now estimated to sport eight kingpins. On Thursday Blocktower issued a statement that it hired Michael Bucella, who was also with Goldman Sachs since 2008. Bucella’s most recent role at the bank was related to multi-asset sales in Canada, where he headed key partnerships and business development.
Alpha Potential Is Abundant
On its sparse website Blocktower Large letter’s only description of its investment strategy, goals or operation is “bringing professional return and portfolio management to an emerging digital asset class.” There is no praise of what cryptocurrencies they will focus on for trading, as well as whether they desire invest in ICO tokens or stocks of any ‘blockchain’ companies.
However, CEO Goetz, characterized what is the opportunity the fund can capitalize on: “It’s a wildly inefficient market where alpha embryonic is abundant — more than anything we’ve seen in our careers. We think it’s a rare opening for investors. It’s not often there’s a new capital market being born in appearance of you.”
This sentiment appears to be shared among more and more investors in both the resources and the venture capital worlds. A few notable examples include legendary value investor Invoice Miller who now holds half of his hedge fund in bitcoin, TechCrunch and CrunchFund falter Michael Arrington‘s $100 million XRP hedge fund, billionaire investor Michael Novogratz and most recently Peter Thiel’s Initiators Fund.
Would you invest in a cryptocurrency hedge fund run by former ex-Goldman Sachs executives? Delineate us what you think in the comments section below.
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