Crypto-Drunk Swiss Funding Agency Launches Bitcoin Mining Fund

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By CCN.com: Ordinarily, institutional investors in the crypto space are usually portrayed as primarily interested in investing only in digital assets. Now, a partnership between blockchain startup Bitfury Group and Swiss investment firm Final Frontier aims to offer institutional and professional investors a way to reap from Bitcoin’s infrastructure too.

In a blog post, the two firms indicated that they have launched a regulated bitcoin mining fund targeting this particular class of investors. The product has been developed by Final Frontier and will be under the supervision of the Financial Market Authority, Liechtenstein’s financial regulator.

With the fund, the ‘technological, logistical, financial and execution risks’ hindering institutions from investing in bitcoin mining have been eliminated.

Barriers to Investment for Institutional Clients Gradually Getting Abolished

According to Bitfury’s CEO, Valery Vavilov, the bitcoin mining fund will enhance Bitcoin’s appeal among this coveted group of investors:

With this innovative fund, Final Frontier is providing investors with a novel way of accessing bitcoin mining opportunities, creating financial opportunities and furthering institutional adoption of bitcoin.

Bitfury will scout for and operate the mining sites. These sites will ideally be located in areas with ‘some of the lowest electricity and operating costs globally’. The blockchain firm’s current valuation is $1 billion, according to Reuters. Interestingly, Bitfury also owns a minority stake in Final Frontier.

The launch of the mining fund comes at a time when interest in the sector is expected to grow. Not only has cryptocurrency hit a new high for 2019 but some analysts now consider bitcoin mining profitable.

Bitcoin Mining Now Profitable

Per global markets analyst Alex Kruger, the breakeven value for mining bitcoin is at the moment about $3,550. That is assuming an electrical energy value of $0.055 per kWh when utilizing an Antminer S9 costing $200.

Presently, the value of bitcoin is barely above $5,500 whereas its dominance within the crypto markets is approaching 55 %.

bitcoin

Bitcoin value | Supply: Yahoo Finance

Numerous analysts are additionally bullish about Bitcoin’s prospects particularly following the formation of the Golden Cross. This can be a bullish sample that varieties when an upward-headed 50-day shifting common ‘crosses’ the 200-day shifting common from beneath.

First Bitcoin’s Golden Cross in 4 Years

Occurring earlier this week, it was the primary time bitcoin was experiencing the bullish sample since 2015.

Different bullish indicators have included a resurgence in curiosity in cryptocurrencies by South Koreans. A Korea Monetary Buyers Safety Basis examine indicated that cryptocurrency buyers had elevated their degree of funding by 64 % to common $6,097.

Residents and residents of the East Asian nation are thought-about to be among the most lively within the crypto markets globally. Based on Coinhills, the Korean Received is the fourth most exchanged nationwide forex within the crypto markets.

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