crypto strategy

Billionaire Real Estate Tycoon to Raise $500,000,000 for Crypto and Private Equity Investments: BlockBlog Report

Hong Kong billionaire and real estate tycoon Adrian Cheng’s investment firm is reportedly raising funds to invest in the crypto space as the selloff drives the price of Bitcoin (BTC) and the rest of the world down further. digital asset market.

According BloombergC Capital plans to pool $500 million to fund investments in blockchain assets, credit, and private equity over the next 18 months.

Citing people familiar with the matter, the report said the company is marketing a $200 million blockchain fund and aims to raise another $300 million for investments in private equity and credit strategies.

The company’s CEO and Chairman, Ben Cheng, is bullish on returns even as the crypto winter continues to drive down the prices of digital assets, including Bitcoin which has fallen below $20,000.

He says that the current economic situation presents an opportunity to get the best results, citing that the company’s crypto investments grew by 40% in the first half of the year amid the bear market.

“When people are in defence, we are in attack… After another 6-9 months it will come back.”

C Capital has so far invested approximately $1 billion in private companies, digital assets and credits. Its hedge fund strategy focuses primarily on crypto trading. According to Cheng, the company refused to accept offers from angel funds and seed-stage companies due to high valuations and limited earnings.

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Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note that your transfers and transactions are at your own risk and any loss you may incur is your responsibility. The Daily Hodl does not recommend the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment adviser. Please note that The Daily Hodl engages in affiliate marketing.

Featured Image: Shutterstock/spainter_vfx/Nikelser Kate

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