One of the problems facing those new to the cryptocurrency markets is the level of complexity in using exchanges and making trades. Some degree of technical knowledge is required to open, navigate and trade on a crypto exchange account, get one thing wrong and your virtual currency disappears into the ether. Symmetry Fund aims to alleviate the digital distress by offering a balanced cryptocurrency and ICO investment fund.
Bitcoin’s wild ride to the top last year and altcoins following it has put cryptocurrency firmly into the mainstream with major exchanges now offering futures contracts. In addition to over 100 crypto focused funds already operating a Connecticut based digital currency hedge fund launched in August has raised $ 140 million.
According to Bloomberg, BlockTower has also hired a former vice president at Goldman Sachs Group, expanding its team to eight people. The capital has been raised from family offices and other institutions including venture capital firms.
Bitcoin charity is going strong as the Pineapple Fund donates $ 1 million to the Internet Archive and millions more to other worthy charities.
Tis the season for giving. It’s the time of the year where people go the extra mile to help those less fortunate, offering food, clothing, money, or even a warm bed in order to help out. Bitcoin charity is alive and well as the Pineapple Fund, created by an anonymous individual who goes by the “Pine” moniker, recently announced a fresh wave of new donations to some great organizations, including the Internet Archive and Pencils of Promise.
One of the biggest bulls for Bitcoin, Michael Novogratz, has delayed the launch of his cryptocurrency hedge fund and believes Bitcoin could fall to $ 8,000.
Bitcoin has been one of the most important financial stories in 2017, and as we stagger through the last few days of the year, Bitcoin still has a grip on the headlines. However, instead of the awe of Bitcoin soaring ever higher in value, there is shock as the cryptocurrency has plunged dramatically over the last week. One of the biggest bulls for Bitcoin over the last year is Michael Novogratz, and he now says that Bitcoin could drop as low as $ 8,000.
Ari Paul, CIO of cryptocurrency hedge fund BlockTower Capital, recently sat down with Business Insider’s Sara Silverstein to discuss the three main risks associated with investing in cryptocurrencies.
1. Investment Risks
The first area of risk, according to Paul, is investment risk, by which he predominantly refers to the volatility of cryptocurrencies. All anyone has to do is take a look at Bitcoin’s performance over the past month to understand what he is talking about. Bitcoin started off the month trading at just under $ 10,000 – a point of tremendous growth in and of itself – and in less than three weeks it more than doubled in value, peaking at just over $ 20,000.
More and more companies all over the world are starting to see the benefits of digital currency and its underlying blockchain technology. The year 2015 has seen some spectacular numbers regarding VC investment in Bitcoin and the blockchain, and Cherubic Ventures will add another RBM 30m to that total. Funding future innovation in the digital currency and blockchain industry is never a bad thing.