Cryptocurrency Hedge Fund That Is Funded Via Ripple: Another $100M In the Kitty
The founder of TechCrunch, Michael Arrington, is opening up a $100 hedge fund that is funded through Ripple. To my knowledge, this is the first one that is funded by something other than fiat currency.
Thus far, Arrington has raised $50M with confidence that the rest will be in place before the end of the year.
2017 saw the rise of hedge funds to invest in cryptocurrencies. At least count, there were over 125 created this calendar year alone. We are going to see a great many more in 2018.
Here is Arrington's take on things:
"I seriously think that we'll be in the trillions next year, and that we'll start to see institutional money," he continued. "I think next year you'll see significant gains."
Here is another guy on Wall Street who believes that cryptocurrencies are far from a bubble.
Far from a bubble, Arrington said he believes that the $300 billion cryptocurrency market represents only the beginning of a larger and more diverse ecosystem of assets.
I wrote an article earlier today explaining how 2018 will see the greatest creation of wealth the world has ever see because of cryptocurrencies. Trillions of dollars are going to roll in over the next 24 months from Wall Street. This fund is another $100M added to the kitty.
To read the full article about Arrington's fund:
https://www.coindesk.com/techcrunch-founder-arrington-raising-100-million-ripple-hedge-fund/
Ironically, cryptocurrencies might be the safest investment with the greatest potential reward we have ever seen. With so much money set to enter this marketplace, there is no doubt that tokens are going a lot higher.
Hold onto your STEEM.
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@taskmaster4450, you are a real optimistic crypto guy. I love your predictions and I am with you on this that is why I am slowly but continually investing in Chain.Group Escrow Service trading, mining and advertizing using cryptocurrencies and my focus for now are Bitcoin and Ether. Thanks and more power!
Be sure to add a few bitshares (BTS) in there also...that is going to be an explosive one.
Pleased someone could see value in Ripple :) It had no mystique for crypto enthusiasts, but excellent for banks. Is that because it was too easy to use? LOL :) Go BTS. I like the cryptos that are more than currencies....
Absolutely. BTS has the possibility of having the entire financial sector tossed on it..without people. It has smart contracts...on steroids.
As I repeated stated, I need to get a bit of EOS too just to have my bases covered.
I am not an XRP...the banks seem to want to do their own thing...they are going to resist public blockchain....plus BTS and other chains will have many of the financial services banks have.
Banks could well be obsolete in 10 years.
That’s exactly what I’ve been thinking for a few years now. Crypto will make banks obsolete by the end of the next decade.
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STOPHave a nice day my friend