Billion dollar venture funds belonging to the Soros and Rockefeller families have publicly announced their intentions to enter the crypto space.
The Soros announcement was a bit of a surprise as the billionaire was noted as calling Bitcoin and crypto currencies a bubble at the World Economic Fourm held in Davos, Switzerland this year. He did however say that he believed that perceived crypto bubble would not "have a sharp break" like most asset bubbles.
“Normally when you have a parabolic curve, eventually it has a very sharp break,” Soros said. “But in this case, as long as you have dictatorships on the rise you will have a different ending, because the rulers in those countries will turn to Bitcoin to build a nest egg abroad."
Soros, will of course will not be handling trading and investing himself as that will be left to Adam Fisher, of the Soros Fund Management’s macro investing operation based in New York. You can find out more here.
Rockefeller family owned venture capital fund, Venrock, with it's 3 billion dollar fund will focus on long term growth in the crypto space, opposed to the short term gain. Venrock is know for investing in Apple and Intel before they became household names, and more recenty invested in Dollar Shave Club and Nest. Find out more about Venrock's plans here.
There are always mixed opinion when big money begins to show its head in any venture, here's hoping the this sort of news is encouraging for Bitcoin, blockchain and crypto in general.
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