Bitcoin Fund Seeks $100 Million to Capitalize on Market Mayhem
- Fund investors say banking crisis reflects a need for Bitcoin
- Bitcoin rally in wake of bank sector fallout has been cooling
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A group of investors has set out to raise $100 million for a Bitcoin-focused fund even as implosions and scandals rock the crypto world.
Dubbed The Bitcoin Opportunity Fund, the investment vehicle caters to high-net worth investors looking to diversify into the world’s largest cryptocurrency. Led by six investors, including managing partners James Lavish and David Foley, the fund will target both public and private Bitcoin-adjacent companies. The team told Bloomberg that they are putting “a significant portion of their own net worth” toward the fund.