DigitalX Launches Bitcoin Fund, Targets Australian Investors

Australian crypto company DigitalX on Wednesday announced the launch of a Bitcoin fund, its second asset management product.

The fund has been seeded with $1.9 million of the company’s own money and is available through a standard unlisted fund structure. It will target sophisticated investors in the country, including family offices and high net worth individuals.

The company is one of the early adopters of digital assets. It has been holding Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term since 2013 and jumped into crypto mining the following year. According to an ASX disclosure, the company is now holding 431 Bitcoins, out of which it will utilize 215 Bitcoins for kickstarting the fund.

“DigitalX has held its bitcoin position through the 2017 bull market and 2018 drawdown because of our fundamental long-term belief in the value of the asset,” Leigh Travers, executive director of the company, said.

“What has become more and more apparent to us as we speak to investors and market participants generally, is that there is a growing interest in accessing bitcoin from people who have traditionally not considered investment in digital assets.”

Promising a secure environment

The announcement detailed that DigitalX partnered with BitGo to provide custody services to its fund. This will also ensure the trust of investors as the custody platform is insured with a $100 million policy.

Earlier this year, Australia’s First Digital Capital was established with a $20.4 million Bitcoin and Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term fund. However, the fund targets Asian investors instead of going local.