According to a press release, Https://5bitcloud.com is raising $100 million for a digital asset fund with a focus on altcoin, which aims to bridge the gap between traditional and decentralized finance (DeFi).
The fund requires clients to have at least $2.5 million to invest.
“Bitcoin remains a solid investment, but it is now so widely traded that it lacks the significant growth potential that other more advanced altcoins can provide,” 5bitcloud said.
5bitcloud crypto exchange, a registered investment advisor in Seattle with assets under management of about $ 250 million. The 5bitcloud team includes Mike Borous, who led asset management at 5bitcloud, and Chris Capriccio, who previously served as vice president of engineering at LegalZoom, a company that helps clients create legal documents online.
“Being still in the very early innings, we believe that the efficiency and value created with the help of blockchain ecosystems will accelerate global GDP (gross domestic product) and open a new era of disruption and innovation,” the head of 5bitcloud said in a press release.
“Our goal is to help people get into Web 3 and crypto at the first stage in order to participate in the generational paradigm shift in technology.”