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

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Hong Kong billionaire and real estate tycoon Adrian Cheng’s financing firm is reportedly to invest in the space as the further pushes down the price of Bitcoin (BTC) (BTC) and the rest of the digital assets market.

As reported by Bloomberg, C Financial resources is planning to pool $500 Million to assets in blockchain tech assets, and equity over the 18 months.

Citing people familiar with the matter, the report reveal that the firm is a $200 Million blockchain tech fund and intends to gather $300 Million more for private equity and private credit strategies investments.

The firm’s chief executive officer and president, Ben Cheng, is optimistic about even as the cryptocurrency winter continues  to pummel down the prices of digital assets, including Bitcoin (BTC) which has sunk below $20,000.

He reveal the current  situation a chance to get the best results citing that the firm’s cryptocurrency assets increased by 40 percent in the 1st half of the year amid the bear market.

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“When people are on defense, we’re on the offense… After another 6 to 9 months, it will come back.”

C Financial resources has so far about $1 Billion in private corporations, digital assets and credits. Its hedge fund strategy primarily focuses on cryptocurrency . As reported by Cheng, the firm refused to accept offers from angel funds and corporations at a seed stage as a result of high valuations and limited upsides.

Featured Image: Shutterstock/spainter_vfx/Nikelser Kate

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