Cryptocurrency hedge Fund BlockTower Capital raised $140 million

Cryptocurrency hedge Fund BlockTower Capital has already borrowed $140 million and hired a former Vice President of the Goldman Sachs Group, increased its team to eight people. It is reported Bloomberg citing its sources.

The Fund was able to raise funds from family offices and other institutions, including venture capital firms. Their participation, for example, confirmed by Union Square Ventures and Andreessen Horowitz.

Now to the team BlockTower joined Michael Bucella (Michael Bucella), former Vice President of Goldman Sachs, working there since 2008.

BlockTower Capital was launched in August last year, its founders were Matthew Goetz (Matthew Goetz) — a former engineer who worked in investment management at Goldman Sachs for 11 years, and Ari Floor (Ari Paul) — portfolio Manager, who oversaw risks in the investment office of the University of Chicago. Now Goetz is the chief Executive officer, and Paul chief investment officer.

The launch occurred on the wave of the growing popularity of cryptocurrencies in the second half of last year. As previously reported, the total number of cryptocurrency hedge Fund has already exceeded 120.

Recall that the BlockTower Capital co-founder Matthew Goetz has compared rates for cryptocurrencies with bets on the Internet in the early days of its existence. The Fund is optimistic about the prospects of cryptocurrency and bitcoin in particular, because the made a bet that the price of the first cryptocurrency to exceed $50 thousand by the end of 2018.

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