News TechCrunch Founder Launches a $100m Hedge Fund Solely Using...

TechCrunch Founder Launches a $100m Hedge Fund Solely Using XRP for Investments


- Advertisment -

A lot of interesting things are happening in the world of Ripple and XRP. More specifically, Michael Arrington, founder of TechCrunch, will launch a new cryptocurrency fund. Surprisingly, this will be a capital fund mainly focused on XRP. It is evident Ripple’s digital asset has attracted a lot of attention over the past twelve months. This will certainly help the asset grow in value and let more people get exposed to its price.

It will be interesting to see how this new capital fund will play out. In a lot of cases, hedge funds focus on Bitcoin and Ethereum. Some even invest in early stage blockchain startups. One or two may invest in initial coin offerings, which is somewhat risky. So far, no company has shown any major interest in Ripple’s digital asset. That has always been quite surprising, considering how valuable this asset will be. Some people have high hopes for XRP in the next few years.

A Major Boost for XRP

Michael Arrington acknowledges the value of this asset. So much even that he is launching an XRP-oriented capital fund in the near future. Known as Arrington XRP Capital, it will become a $100m hedge fund accessible by investors all over the world. The fund will solely use Ripple’s asset to invest in assets and blockchain technology. It is a good way of exposing more individuals to what this asset is all about. Especially with Ripple locking up over half of the supply soon, things will get very interesting.

Michael Arrington explains the decision as follows:

“We will invest in a wide variety of cryptocurrency assets and related technologies. The primary focus will be on existing tokens. The fund will also invest a portion of its assets in ICOs and more traditional investments such as private equity offerings. Having a hedge fund denominated in a cryptocurrency makes things far easier for investors already holding a lot of cryptocurrency. With no need to convert back to fiat, everyone can save time and fees doing things this way.”

It is remarkable to see a capital fund focus on the least cryptocurrency-like asset of them all. Ripple’s asset is mainly designed for financial purposes, which makes it a logical candidate for a capital fund of this magnitude. It also validates XRP as the best option for real-time transparent transactions in a secure manner. Plus, there is much-needed liquidity for cross-border transactions, which is something other cryptocurrencies may not provide per se. Whether or not this fund will attract a lot of attention, remains to be determined, though.

Header image courtesy of Shutterstock

Source link


Please enter your comment!
Please enter your name here

Latest news

Why could GLBrain become a great solution to receive support during the crisis?

To support smaller and medium-sized businesses during the ongoing crisis, GLBrain offers services cost-free for all Austrians....

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that allows users to buy and sell their Cryptocurrency in a...

Network Security Using Cryptography: Everything you need to know

This article will describe what is Network Security Using Cryptography and everything you need to know before...

Mercuriex Cryptocurrency Exchange Launches New Utility Token, SURF

MercuriEx Cryptocurrency Exchange, originally developed in 2017, came under new ownership in December 2019. Since taking over the exchange,...
- Advertisement -TechCrunch Founder Launches a $100m Hedge Fund Solely Using XRP for Investments

Fungibility: Bitcoin Mixers Favorite Term That No One Understands

Fungibility, perhaps the most important concept when dealing with a decentralized and anonymous currency, but does bitcoin...

Crypto can’t thrive in the real world – but stablecoins can

We can safely say that the hype about cryptocurrencies is pretty much over. The claims of Bitcoin...

Must read

Make Fast and Secure Trades Using is a Cryptocurrency trading platform that...
- Advertisement -TechCrunch Founder Launches a $100m Hedge Fund Solely Using XRP for InvestmentsTechCrunch Founder Launches a $100m Hedge Fund Solely Using XRP for Investments

You might also likeRELATED
Recommended to you