Swan Bitcoin Launches Service For High-Net-Worth Clients And Institutions

2021-2-4 20:00

Today, bitcoin investment company Swan Bitcoin announced the launch of Swan Private, its dedicated service to help high-net-worth individuals, corporations and institutions invest in bitcoin and manage their funds.

“Swan Private helps clients establish and build their bitcoin position over time,” according to an announcement shared with Bitcoin Magazine. “Clients often make a large purchase to establish an initial position. Swan then makes it easy to smooth market volatility over time with automatic recurring buys. When clients have more capital to deploy than already planned, Swan can make one-time purchases of up to $100 million with no annual limits.”

Swan Private will offer clients access to a dedicated team, support for wire transfers with no purchase limits, guidance on how to maintain self custody of the private keys for bitcoin addresses, guidance on retirement accounts and assistance on completing tax forms, per the announcement. 

Its brokerage and custody services are supported by Prime Trust, a Nevada-regulated trust company. Clients can withdraw their bitcoin into self custody, or choose to hold it in cold storage through a legal trust account that they hold.

The new service comes in the wake of numerous major institutions and influential investors buying into bitcoin, along with a sustained bull run throughout most of 2020 and into 2021. This trend has been most notably pioneered by software intelligence company MicroStrategy, which diverted $250 million of its reserve assets into bitcoin in August 2020 and has continued to make significant investments since.

“Since MicroStrategy started the corporate Bitcoin standard trend, Swan Bitcoin has seen significant growth in the number of high-net-worth individuals and corporate customers,” Robert Breedlove, the managing director of Swan Private client services, said in the announcement. “This demand led Swan to launch Swan Private, a service dedicated to this demographic.”

The post Swan Bitcoin Launches Service For High-Net-Worth Clients And Institutions appeared first on Bitcoin Magazine.

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