Friday, September 17, 2021

Simon Nixon-owned firm plans to increase its crypto investments.

The Takeaway:

English billionaire and founder Simon Nixon plans to increase its crypto investments through his London-based venture capital firm.

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According to a recent Bloomberg report, Adam Proctor, managing director for Nixon’s investment firm Seek Ventures, said that the company intends to increase crypto investments. He said, “allocation to crypto as we feel it is an important area for the future.” According to Goldman Sachs, crypto investments are drawing the interest of family offices, which stated that half of the family offices it does business with are interested in adding crypto to their portfolios.


The recent temporary downfall of Bitcoin’s price was seen as an investment opportunity. 

The recent temporary downfall of the leading cryptocurrency Bitcoin’s price to below $30,000 was seen as a crypto investments opportunity for Alameda Research, a Hong Kong-based firm led by FTX CEO Sam Bankman-Fried. A new report suggests that 4% of the total Bitcoin supply — 816,379 BTC — is owned by 14 Bitcoin fund issuers and asset managers, currently representing $40.1 billion. Out of the lot, the Grayscale Bitcoin Trust stands as the leader with 654,600 BTC — more than 3% of BTC’s supply. 


Grayscale Bitcoin Trust stands as the leader with 654,600 BTC. 

Out of all the asset management firms, the Grayscale Bitcoin Trust stands as the leader with 654,600 BTC — more than 3% of BTC’s supply. Coming in second, CoinShares’ XBT Provider represents 0.23% of the total supply with 48,466 BTC ($2.4 billion), while the remaining 12 issuers hold the remaining 113,313 BTC. The data also suggests that electric vehicle manufacturer Tesla has 42,902 BTC, while MicroStrategy (108,992 BTC) and blockchain giant Block.One (140,000 BTC) has cumulatively accumulated over $14.2 billion worth of Bitcoin. Bitcoin gained a lot of mainstream exposure earlier this year when it reached its all-time high above $64,000. 

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Disclaimer: The article reflects the opinions of the author and is not representative of Chaintimes’ views.
The article does not offer any investment advice. User discretion is advised when investing in or trading with cryptocurrency. Extensive and diligent research should be carried out by the reader before making a decision.

Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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