Bitcoin.com, the Bitcoin (BTC)-related firm backed by ‘Bitcoin Jesus’ Roger Ver, is planning to launch its $200 million Bitcoin Cash (BCH) investment fund that will focus on payment-related solutions and non-custodial financial services.
Mr. Ver, an early Bitcoin and famous Bitcoin Cash promoter, shared the plans on developing a BCH ecosystem at yesterday’s Bitcoin Cash Meeting in London.
According to Bitcoin.com, the $200 million fund will empower developers to offer new capabilities to the bitcoin cash ecosystem; as well as give institutional investors a chance to capitalize on the future of the digital currency.
Moreover, Mr. Ver started his passionate speech by demonstrating how BCH could be utilized in a real-world economy. He concluded that BCH has achieved everything as a decentralized peer-to-peer equivalent of cash, becoming the most “Satoshi Vision” digital currency
As per the official announcement, details of the BCH Ecosystem Investment Fund are not yet finished. However, it will allow participation from institutional investors. In addition, the fund will be investing in payment gateways, processors remittances, wallet and merchant acquirers.
Furthermore, Bitcoin.com’s new CEO, Stefan Rust, has reportedly identified up to 20 potential institutional investors that share the company’s vision. He said:
“We are super excited to launch the $200 million ecosystem fund that will rapidly scale up Bitcoin Cash focused businesses. Bitcoin.com receives between 6 to 8 business plans every day from software entrepreneurs leveraging the unique features and capabilities of the Bitcoin Cash blockchain. Bitcoin.com now has the resources and team to support these BCH entrepreneurs, grow the value of their businesses and spread bitcoin cash adoption.”
Rise in emergence of new crypto funds
In conclusion, the number of new crypto-related funds seems to be rising. Yesterday, Michael Novogratz’s Galaxy Digital announced the launch of two Bitcoin funds. Just last week, ConsenSys’ CSO Sam Cassatt announced that his new investment firm Aligned Capital; is planning to raise $50 million for its first fund.