GreenPro Capital has announced its plans to set up a BTC Fund for investment. The firm confirms its belief that Bitcoin might be the next best thing and a truly reliable store of value.
GreenPro Capital Corp (NASDAQ listed as GRNQ) is among the latest corporations to express positivity about the future of Bitcoin. In recent announcement, the financial advisory service provider noted that it believes that banking institutions, hedge funds, insurance companies, etc., will soon start adopting BTC.
GRNQ asserted that it considers Bitcoin the most reliable future store of value in the world. The company’s recent intention of launching and implementing its own BTC Fund combined with the right “crypto strategy” will produce significant future value for the firm.
Along with its opinion on Bitcoin, GreenPro affirmed its belief in cryptocurrencies in general, including the second-largest – Ethereum (ETH). According to the announcement, ETH might provide better returns and preserve the value of the company’s assets in time, rather than holding fiat assets.
“We fully believe in BTC as a store of value. I’ve instructed our investment bankers to raise debt in Q1, 2021 of up to US$100 million to invest in BTC. The company will also invest its own cash into BTC”, commented GreenPro CEO CK Lee.
The Hong Kong-based company plans to involve its subsidiary, CryptoSX, to acquire its BTC stake.
The latest announcement by GreenPro on launching its own $BTC Fund doesn’t come as a surprise, considering the current trend in the business environment. Large firms like Square, NASDAQ-listed MicroStrategy, and institutions such as insurance company MassMutual and hedge fund giant One River Asset Management keep entering the crypto space.
CoinShares published official data recently, reaffirming that institutional investors have managed to allocate considerable parts of their fiat assets into Bitcoin and other cryptocurrencies in a short period of time. Almost $500 million investments from several companies testify that institutional interest in digital assets is just tuning up, preparing for an eventual crypto-optimistic future.
JPMorgan Chase & Co shared another similar opinion recently. The multinational investment bank’s analysts asserted that the latest institutional interest and investments in Bitcoin determine its latter price movement.
Stepping on the fact that the top crypto asset in the world has scored a surge of more than 250% since the beginning of 2020, the strategists presumed that institutional interest is probably the main reason behind the BTC price surge.