C1 Secondaries Fund Seeks to Invest in Crypto Firms
C1 Secondaries Fund, a fund with $500 million in assets, is looking to make investments in crypto companies such as Animoca Brands and Chainalysis. As the crypto markets continue their bullish momentum, the Silicon Valley and UAE-based fund is prepared to write cheques ranging from $20 million to $50 million to acquire private holdings in crypto firms valued at $300 million and above.
Discounted Offers for Animoca Brands and Chainalysis
The C1 Fund, co-founded by a former Coinbase executive, has offered to buy shares of Animoca Brands at a price 75% below its most recent valuation. Similarly, the fund is also looking to purchase Chainalysis shares at a 63% discount on its last capital raise.
Market Uptick in the Crypto Space
The C1 Secondaries Fund’s interest in acquiring stocks of these two companies comes amidst a recent market uptick in the crypto space. Bitcoin (BTC) surpassed $40,000 in early December, pushing the total market capitalization of the crypto industry over $1.6 trillion. Nonfungible tokens (NFTs) have also experienced a surge in trading volume, reaching nearly $1 billion in November.
Hot Take: Bullish Momentum Drives Investments in Crypto Companies
The C1 Secondaries Fund’s plan to invest in crypto firms like Animoca Brands and Chainalysis reflects the positive sentiment and growing confidence in the crypto market. With Bitcoin’s price rally and increased trading volume for NFTs, investors are seizing opportunities to capitalize on this bullish momentum. As institutional players like C1 Secondaries Fund enter the space, it further validates the long-term potential of cryptocurrencies and blockchain technology.
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