Dubai Crypto Fund Sells $750 Million BTC to Buy More ADA, DOT

2021-2-27 17:15

Dubai-based FD7 Ventures announced that it would be selling $750 million worth of Bitcoin (BTC) to purchase more Cardano (ADA) and Polkadot (DOT).

With this move, the crypto investment fund would be selling most of the $1 billion under management to invest in the upstart blockchains. Both ADA and DOT are high-speed, low-cost smart contract deployment networks that claim to enable scalability.

BTC Served its Purpose

According to FD7 Managing Director, Prakash Chand, the fund feels as though BTC has ultimately served its purpose, and that diversifying into new altcoins would better serve its investors.

Welcome FD7 Ventures to the ecosystem https://t.co/CmQdOCDJ2x let us know if you need any technical support and we'd love to see you on Catalyst.

— Charles Hoskinson (@IOHK_Charles) February 25, 2021

“Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless,” Chand said. “Projects such as Cardano, Polkadot, and Ethereum (ETH) are the foundation of the new internet and Web 3.0,” he added.

Web3

The founders of both ADA and DOT, Charles Hoskinson and Dr. Gavin Wood, respectively, were both among the seven founders of Ethereum. The announcement cited examples of how their new projects are contributing to the new decentralized Web3.

For instance, ADA is working on a blockchain solution to address the needs of millions of unbanked individuals in Africa. Meanwhile, DOT is developing an ecosystem of “moonshot” projects to enable a decentralized platform for Web3.

Upon hearing of FD7’s intended acquisition, Hoskinson seemed to welcome the news in a tweet.

ETH, ADA, and DOT

Further rationalizing the decision, Chand said,

“I’ve been lucky enough to spend lots time with the brightest minds in crypto and I’m willing to bet that each of Ethereum, Cardano and Polkadot will be more valuable than Bitcoin within the next few years.” 

BeInCrypto reported last week (Feb 15 – 19) that ADA and DOT were being seen as increasingly viable alternatives to Ethereum, as high gas prices have forced users to other platforms. This is increasingly the case not only for smart contracts but also with Decentralized Finance (DeFi).

The post Dubai Crypto Fund Sells $750 Million BTC to Buy More ADA, DOT appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Cardano (ADA) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0.576
Капитализация $0 Rank 99999
Цена в час новости $ 1.2531 (-100%)

ada dot fund crypto high-speed blockchains invest

Источник: beincrypto.com

ada dot → Результатов: 77


Фото:

Dubai Based Crypto Investment Fund to Convert $750 Million Worth of BTC Into ADA and DOT Tokens

A Dubai based crypto-based investment fund, FD7 Ventures says it will offload bitcoins worth $750 million and will use the proceeds to increase positions in Cardano and Polkadot tokens. According to FD7 Ventures, this switch to the two altcoins will help the fund to better serve the interests of investors who are looking to diversify […]

2021-2-27 18:30


Фото:

Криптовалютный фонд FD7 Ventures продаст биткоины на $750 млн для покупки ADA и DOT

Криптовалютный фонд из Дубая FD7 Ventures в следующем месяце продаcт BTC на $750 млн и купит на эти средства криптовалюты проектов Cardano (ADA) и Polkadot (DOT).  

2021-2-27 15:17


Фото:

Binance Coin сместил Tether с третьей строчки в рейтинге активов по капитализации

За последние сутки токен криптовалютной биржи Binance подорожал почти на 50%. Этого позволило ему занять сразу третье место по капитализации среди активов криптовалютного рынка, обойдя и Tether (USDT), и соперничавших за четвертую строчку Cardano (ADA) и Polkadot (DOT).

2021-2-19 14:35


Polkadot рвется в топ-3 с ценой выше $30

Курс Polkadot (DOT) за последние сутки вырос на 14% и достиг новых исторических максимумов выше $30. Вместе с этим капитализация DOT превысила $29 млрд, что позволило ему снова отбить четвертую строчку в списке крупнейших криптоактивов у Cardano (ADA).

2021-2-16 12:51


У Grayscale могут появиться инвестиционные трасты еще на базе нескольких криптовалют

Управляющая цифровыми активами компания Grayscale Investments зарегистрировала еще шесть трастов для возможного открытия в будущем. Новые трасты основываются на Polkadot (DOT), Aave (AAVE), Monero (XMR), Cardano (ADA), Cosmos (ATOM) и EOS.

2021-1-28 17:59


дальше еще 28 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Biblical floods hit Dubai, disrupting Blockchain Life and Token2049

Dubai is grappling with extreme weather conditions that has disrupted the city’s infrastructure at a time when crypto elites have descended on the city for several industry conferences. Crypto conferences such as Blockchain Life and Token2049 encountered an unexpected twist…

Crypto.com acquires full operational license in Dubai

Crypto. com secures historic full operational license from Dubai’s VARA. The license pioneers fiat operations in UAE crypto landscape. Crypto. com can now cater to institutional investors, offering diverse services including spot trading and staking.

VESA at Cypher Capital

Hi BitFam, Today we’re celebrating a union that took place recently when VESA travelled to Dubai for a month of meetings, partnership calls, keynotes, and conferences. A juicy sized catalogue of VESA works moved into the Cypher Capital Hub in October and this time, we want to celebrate this incredible handshake and share the stories behind the artworks you can see on the walls.