Former senior manager at Bain to help raise $50m to buy cryptocurrencies

— The newly formed Crypto Assets fund is in the process of raising $50m for buying crytocurrencies for Latin America’s wealthy families. The organisation has been co-founded by Roberto Ponce Romay — former senior manager at the consulting firm Bain & Company.

— An announcement regarding the first tranche of the fund, estimated to be about $10m and in the final stages of closing, is expected around the end of the month.

— In an interview, Romay revealed that the purpose of the fund is to provide investor’s in Latin America’s more unstable economies a new way to hedge their investments, and to explore the new stores of value for possible future investments.

http://www.coindesk.com/former-bain-manager-launches-50-million-bitcoin-ethereum-fund/

MY STANDPOINT

It comes as no surprise that cryptocurrencies are rising in popularity as a choice for investments. Bitcoin’s boom has been astounding indeed. But then, even the slightest of rumours cause its value to tumble down, and then go back up again after some time. This volatility is both good and bad for investors.

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