Cryptocurrency has put its legs in every single field and industry. From many years, there are so many funds which are looking forward to the Crypto Industry. Most of the time everything is set but all of them are just afraid to be the first fund to go towards the crypto space.
Two of the American public sector pension funds have recently backed an entirely new fund for cryptocurrency venture capital. The investment in it is very big. The large tranche has a total of $40 Million. All the crypto enthusiasts were waiting for this day to come.
More about the funds
These two funds that are providing the backing for Morgan creek Blockchains are Fairfax County Employees’ pension plan and Fairfax County Police pension plan. They will be directly investing the amount in the companies which are related to the cryptocurrencies or digital assets. Although the investment portion is low, the companies are starting to move towards the crypto industry.
Will more Fund companies go for Crypto?
It has been a long time since many companies were planning to divert some portion of the funds to the crypto. However, everyone was afraid to be the first one. According to Forbes’ article, if some of the funds will for the crypto, there are more chances that most of the other funds will also start going. This is just the start, even the Morgan Creek has invested only a small portion of the total capital it has on the crypto industry. Although, for some of the funds, it will take time soon more funds will go towards it.
There are many doubts and questions when the funds are migrating towards going to crypto industry. As of now, the cryptocurrency prices are increasing and going higher and higher. As for some of them, Crypto has always been doubtful currency, there are many issues. People are afraid whether they are going to have a function room for the 30th birthday of their son or their money are just going to be wasted with no return.