Japan cryptfond invests 300 million yen in bitcoin

[barbaris]

This month, it is planned to launch a crypto-currency fund worth over 300 million yen (2.66 million dollars), for investing in bitcoins and other crypto-currencies. The launch of this fund will be the Japanese financial information provider "Fisco". Tokyo Fisco, a research and information center that covers the turnover of stocks, foreign exchanges, bonds and goods in Japan and beyond, is going to open an investment fund specifically focused on crypto-currencies. According to the Nikkei report, the information provider will invest its own money, without attracting outside capital, and will launch an open-ended investment fund with a working capital of more than 300 million yen (approximately $ 2.66 million). The first of its kind fund in Japan will focus on investments in bitcoin and other crypto-currencies and, it is reported, will be launched before the end of January. Fisco aims to achieve a 20% annual return on the fund's investment. In addition, the fund will also seek to profit through arbitrage opportunities, examining the price differences between the domestic and foreign exchange exchanges. Fisco was an early driving force in the study and adoption of the Crypto-currency. Earlier in August 2017, the fund issued a loan of three hundred years for 200 bikoyans (about $ 800,000 at that time), another firm in the Fisco group. Masoyuki Tashiro, the chief product manager for Fisco, said: "We expect that bitcoin will eventually be recognized as a financial product. "We expect that bitkoyn will eventually be recognized as a financial product."
What do you think about it? Is it worth investing in bitcoin? Or is it a bubble?

[wilberthh]

This could be a good news for bitcoin!

Eventhough 300 million yen (2,706,000  USD) won't affect the price that much,  but this news will definitely bring more investors to bitcoin  

[akki785]

That is indeed a very good news for cryptoworld.

Hope it'll bring a positive impact on the further growth of Bitcoin..

Thanks for sharing the news..

[barbaris]

1 hour ago, wilberthh said:

This could be a good news for bitcoin!

Eventhough 300 million yen (2,706,000  USD) won't affect the price that much,  but this news will definitely bring more investors to bitcoin  

 

1 hour ago, akki785 said:

That is indeed a very good news for cryptoworld.

Hope it'll bring a positive impact on the further growth of Bitcoin..

Thanks for sharing the news..

I hope this will help bitcoin to regain its positions and the price will start to grow.