BlockTower Capital's hedge fund raises $140m

Investors of the American cryptocurrency hedge fund BlockTower Capital were Union Square Ventures LLC, Andreessen Horowitz and others
05 January 2018   502

The rapid growth of bitcoin and altcoins last year coincided with the launch of futures, which allow investors to work with cryptocurrencies in regulated markets. Another evidence of the penetration of bitcoin into the world of traditional finance can be the emergence of a large number of crypto-currency funds. One of them has already attracted $ 140 million.

According to Bloomberg, the investors of the American fund BlockTower Capital were Union Square Ventures LLC, Andreessen Horowitz, as well as several venture capital companies and companies for the trust management of family capital. Recently BlockTower notified potential investors that since January 1, the collection of funds within the framework of the main fund has ceased.

In addition, Michael Buchella, former vice-president of Goldman Sachs Group, joined the fund's team as head of business development.

According to Morgan Stanley, more than 100 funds are already working in the crypto-currency area, under management of which there are assets worth $ 2 billion. Large companies, such as Goldman Sachs, also take part in this process, providing their clients with clearing services for crypto-exchange contracts.

Hedge Fund Research has launched an index that tracks the performance of funds working in this area. It was found that in November the yield of funds investing in crypto-currencies and the blockchain-company amounted to 1,500%, while the profitability of funds, whose investments are limited to digital assets, exceeded 1,600%.

Recall that in December BlockTower put a million dollars to the fact that before the end of this year, the bitcoin rate will reach $ 50,000.

Texas to host BitBlockBoom conference

Bitcoin, blockchain and cryptocurrency conference BitBlockBoom will be held on July 14 - 15 to discuss the disruptive technology
19 May 2018   39

Bitcoin, blockchain and cryptocurrency professionals are going to convene in Irving, TX on July 14 through July 15. Brightest minds in crypto will be talking about the true meaning of Bitcoin, the promise of a distributed ledgers, and the potential of decentralization. First wave of speakers are as follows:

The conference will be held at the Study USA. Here is what the event says about itself:

Invest in yourself. Learning about cryptocurrency today is like learning HTML in the 1990s. With the proper training you can have a career spanning decades. With the proper knowledge you can avoid scams and discover opportunities to prosper in this new industry.

The event is sponsored by Crypto Unicorn Money. To learn more about the event, you can visit the official page here.