One of the <a href="https://www.cryptoknowmics.com/news/what-is-bitcoin-mining/" target="_blank" rel="noopener">oldest Bitcoin miner</a> operators, Bixin, is <a href="https://www.coindesk.com/one-of-bitcoins-earliest-miners-is-dedicating-66m-in-crypto-to-a-fund-of-funds" target="_blank" rel="noopener">investing</a> $66 million worth Bitcoin to a new fund of funds.

On May 08, 2020, the wallet startup company released the fund of funds with its proprietary capital and mentioned that it would be devoted to global quantitative trading funds.

The strategies of these trading funds are based on arbitrage, bitcoin futures and trend analysis.
<h2>Bixin’s Unwavering Commitment To Bitcoin</h2>
While making the announcement, Bixin, stated that amidst the halving event, the firm is planning to supply the additional liquidity and market-making activities to the trading desk so that company could enhance its holding in Bitcoin.

Regarding this, Liu Fei, a person who looks after the mining business of Bixin and the fund of funds, stated, “We are strong believers in bitcoin and it's not what we want to see that the bitcoin ecosystem in China and elsewhere are in a silo”.

He hopes that in the future, fund of funds could help in improving the liquidity structure for the bitcoin ecosystem, at the global level.

Earlier, Fei was the part of Houbi Exchange, but in the year 2018, he decided to join Bixin.
<h2>Bitcoin Self-Mining</h2>
In the year 2014, Wu Gang founded the Bixin and since then it became one of the most popular wallets for bitcoin and mining pool operator in China.

The founder of Bixin started mining bitcoin in the year 2009.

The investment in bitcoin self-ming started increasing in late 2018 and in early 2019, it experienced a bearish market.

In today’s time, the firm is operating the bitcoin facilities of around 300 megawatt-hours, at least 3000 petahashes per second of computing power which is accountable for 2.5 percent of the Bitcoin network’s total.

In the year 2018, Bixin spends its capital in incorporating an investment and financial service branch. It also invested in Poolln and MicroBT, the two leading startups of China were the leading competitors against mining giant Bitmain.

Articles You May Read.
<ul>
 	<li><a href="https://www.cryptoknowmics.com/news/top-cryptocurrency-index-funds-in-2020/">Top Cryptocurrency Index Funds in 2020 To Invest</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/best-cryptocurrency-asset-management-tool/">Best Cryptocurrency Asset Management Tool |Analytical And Trading Tool</a></li>
 	<li><a href="https://www.cryptoknowmics.com/news/best-otc-cryptocurrency-broker-of-2020/">Best OTC Cryptocurrency Broker Of 2020 | Overview of OTC Markets</a></li>
</ul>

Earliest Wallet Startup Bixin Allots 6600 Bitcoin To Fund Of Funds

One of the oldest Bitcoin miner operators, Bixin, is investing 6600 bitcoin whose worth is $66 million, to a new fund of funds.

Jyoti is a graduate from GGSIPU and has done her PG Diploma in English Journalism from IIMC. Presently, she is working as a content writer with Agio Support Solution Pvt. Ltd. Her aim is to provide informative content about cryptocurrency and blockchain, to the tech-enthusiasts.

Earliest Wallet Startup Bixin Allots 6600 Bitcoin To Fund Of Funds

Top Picks