Hedge funds, bitcoin collaboration on the rise

By @chelean on
Ripple, Bitcoin, Etherum and Litecoin virtual currencies
FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 13, 2018. Reuters/Dado Ruvic/File Photo

Cryptocurrency hedge funds had a banner year in 2017, and it looks like the industry will continue to grow in the next few months. Hedge funds and cryptocurrency seem like a marriage made in heaven. Investors who want to jump in on the bitcoin bandwagon can rely on experts who are managing these hedge funds.

There are two types of cryptocurrency hedge funds: one that focuses on cryptocurrencies and one that focuses on a mix of investments on top of bitcoin. For those looking to invest in bitcoin via hedge funds, they can start with eToro Cryptofund. This platform will give them a chance to see the movements of bitcoin, Ethereum, Ripple, and Dash. According to Investopedia, there was some hesitation before when it comes to bitcoin and other cryptocurrencies because of their volatile nature, but those seem to fade away for now. 

Nine hedge funds which also worked on bitcoin gained 1,167 percent as a group. The impressive feat was still left in the dust, though, when compared to the growth that bitcoin had last year at 1,403 percent. Currently, there are 226 cryptocurrency hedge funds in the world, and the number is expected to grow due to its massive potential and initial success.

A lot of companies have ventured to cryptocurrency hoping to get a piece of surging revenues. Companies such as Daimler, Neufund, Jibrel network, Overstock and Otonomos are now working on their respective platforms to make way for tokenised fiat currencies in the future.

Nerayoff moves from Ethereum to Global Blockchain

The blockchain innovators are ushering in a new era in these cryptocurrency platforms. One of them is Steve Nerayoff, who gained prominence because of his US$100 billion (AU$128 billion) Ethereum project. Now, Nerayoff has launched Global Blockchain Technologies (OTCMKTS:BLKCF), which is the first of its kind in the world. Global Blockchain is an asset company that offers investors exclusive access to new initial coin offerings (ICOs) and identify new avenues for cryptocurrencies.

What makes them different is that the team behind Global Blockchain Technologies are all experts and pioneers in their own field. This allays fears among investors, especially in a volatile market such as ICOs and other cryptocurrencies.

The company has started investing in several endeavours which deal with cryptocurrencies. Among them are KODAKCoins, Millennial eSports, and Breaking Data Corp. The latest company that Global Blockchain Technologies handpicked is Decent Tech Inc.

Decent Tech is a betting platform, and the move is seen as strategic because the industry for sports betting is massive. American Gaming Association estimates that US$400 billion (AU$513 billion) is thrown around by bettors all over the world every year. With the massive and still growing markets for sports betting, linking them with ICOs and cryptocurrency via Global Blockchain is a savvy business strategy.

Just like what hedge funds are promising, Global Blockchain prides itself on its experience and expertise that is unmatched in the industry. The company is also offering an in-house innovation incubator, which can speed up growth and maximise potentials of upcoming blockchain technologies.

The success of cryptocurrency hedge funds is a solid proof that it’s time to take the market seriously and that there are untapped potentials in areas such as crypto mining, ICOs, and blockchain technologies.

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