Sora Ventures, a crypto venture capital firm, announced the creation of a Bitcoin Treasury Fund worth $1 billion. It plans to purchase this fund in full within six months.
Jason Fang, founder of Sora Ventures, spoke at the Taipei Blockchain Week on Friday. unveiled He called him “Asia’s first $1 billion Bitcoin treasury fund” Discussion on Introducing BTC Strategy to Major Asia Equity Markets.
Sora stated that the fund was backed by an investment of $200 million from partners in the region. Fang shared an article in which the company stated that it wanted to increase Bitcoin adoption by corporate treasuries.
Cointelegraph asked Sora Ventures about more details, but received no response prior to publication.
Sora Ventures creates a centralized institutional Bitcoin pool
Bitcoin stacking is not a region-specific effort.BTCSora Ventures envisages that the fund will serve as a centralised institutional vehicle for replicating Bitcoin-first Treasury models in Asia and beyond.
Fang pointed out that institutions from the US, EU and Asia are showing a growing interest in Bitcoin treasuries. However, efforts in Asia remain fragmented.
“This is the first time in history that institutional money has come together, from local to regional, and now to a global stage,” He said.
In the announcement, it was stated that the fund would become a pool for institutional capital to be used by existing companies and create similar funds around the world.
It also stated that it would expand its support to include Asia’s first Bitcoin Treasury pioneers. It said that the company would also create synergies among local and international Treasury to reinforce Bitcoin as a currency across all markets.
Related: Bitcoin treasury pivot lifts luxury watchmaker’s stock more than 60%
The largest corporate Bitcoin investors in Asia
Japan’s Metaplanet is Asia’s largest corporate Bitcoin owner at the time this article was written. The company acquired 1,009 BTC Monday. pushing its total holdings to 20,000 BitcoinThe current value of the.
Data from BitcoinTreasuries.NET showCango Inc. with over $570,000,000 in BTC and Bitfufu which has more than $1 billion in BTC are among the largest BTC holders. holds Over $200 Million in Bitcoin
Magazine: Korean bill to legalize ICOs, Chinese firm’s Ethereum RWAs mystery: Asia Express
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Source: cointelegraph.com
