BlockEffect
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2 min read | 8 months ago

Andreessen Horowitz raised $300 million for Cryptocurrency Investment

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While cryptocurrency becomes a developmental tendency, there are many financial companies investing in the crypto marketplace.

 

Andreessen Horowitz, a venture capital firm in Silicon Valley, also decided to invest money in cryptocurrency. Since 2006, Andreessen and Horowitz have already become active investors in the technology field. This year, they cooperated with a regulatory expert Katie Haun and announced that they raised $300 million for their crypto investment fund.

 

Andreessen Horowitz’s partner Charles Dixon, told CNBC on June 25th that they will invest in early period coins and the $300 million fund will be distributed in different filed, such as Bitcoin and Ethereum. Those investments will be hold for long term.

 

Dixon also declared that the firm will keep their decision on whatever happened to those early-stage coins. He added that “We’ve experienced ups and downs in the cryptocurrency market, and expect there will be many more, There’s potential in the technology, and some of the downturns can be the best investments.”

 

Indeed, Andreessen Horowitz bought Bitcoin during 2013. They did not sell them but continued buying the coins. Dixon mentioned that “There are wild fluctuations in the price, and we see that as an opportunity; we’ve been unphased and investing consistently over time.”

 

According to recent laws, Bitcoin and Ethereum would still not be considered securities. Andreessen Horowitz is trying to find solutions to Haun’s regulatory knowledge.

 

Katie Haun, the first female parter of Menlo Park and previous judiciary federal prosecutor in the U.S., said that “We want to see crypto move on beyond speculation phase and see it solve eventually billions of real-world problems.”

 

Photograph Retrieved from URL: https://www.ccn.com/250-million-target-cryptocurrency-hedge-fund-gains-support-major-investors/

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