TechCrunch founder Michael Arrington announced that he was going to attract $ 100 million to create a hedge Fund, which will work with cryptocurrency assets, tokens and some stock
A Fund called Arrington XRP Capital, is the first that takes investment from all partners only in XRP, cryptocurrency, which was released by a startup from San Francisco Ripple. The Fund also will use XRP for payment and fees.
Arrington said that he believes the establishment of the Fund the next step in his career. Recall that before that Arrington founded one of the most successful publications in the field of IT – TechCrunch and CrunchFund, a venture Fund with 55 actitime today.
In the last few months I have turned from a crypto-enthusiast 100% cryptocurrency Evangelist. I think I’ll devote the rest of his career.
Unlike those who believe that the cryptocurrency is a bubble, Arrington believes that the cryptocurrency market is 300 billion dollars is only the beginning.
I seriously think that next year, the cryptocurrency market capitalization will be measured in the trillions.
The Arrington joined Heather Hurd, former CEO of TechCrunch, as well as two other unnamed partner. Arrington said the Fund has collected $ 50 million to date, and all remaining funds will be collected before the end of the year.
However, given the nature of the Fund, he noted that it is aimed at the more prepared investors, namely those who are already working in the cryptocurrency market.
Arrington also noted that venture capital funds “is not ideal” for the cryptocurrency investment, given the approval process that they must be the founders.