From a new round of institutional investments in Bitcoin and blockchain to the impending launch of Ethereum’s Constantinople upgrade, here’s a look at some of the stories breaking in the world of crypto.
The founder of Morgan Creek Digital says institutions aren’t coming to crypto – they’re already here.
Anthony Pompliano says the crypto asset management firm successfully started a new fund that’s already raised $40 million from two public pensions, a university endowment, an insurance company, a hospital system and a private foundation. The fund will invest in companies focused on building blockchain solutions and hold a small percentage in cryptocurrencies like Bitcoin.
This morning our team at Morgan Creek Digital announced a new $40 million crypto venture fund anchored by two public pensions.
The institutions aren’t coming.
They’re already here. ?
— Pomp ? (@APompliano) February 12, 2019
Pompliano told Bloomberg that smart money is not distracted by the bear market.
“There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable. The smart money is not distracted by price but looks at the long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.”
4/ The headlines will focus on the public pensions, but we also have a hospital system, an university endowment, an insurance company and a private foundation.
The smart money is in the game in a big way.
— Pomp ? (@APompliano) February 13, 2019
The man in charge of developer relations at the Ethereum Foundation says the platform’s Constantinople upgrade is a go for launch.