Seek Ventures Looking To Increase Cryptocurrency Allocation As Fund Issuers Increase BTC Investments

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UK billionaire and founder of Moneysupermarket.com Simon Nixon is planning to increase his cryptocurrency investments via his venture capital firm headquartered in London.  

Seek Ventures sees an opportunity in cryptocurrencies 

A report by Bloomberg quoted Nixon’s venture firm Seek Ventures’ managing director Adam Proctor who said that the firm would increase its crypto allocation since they feel that the industry is an essential market for the future. Additionally, Proctor said that the company is currently searching for an analyst to lead the crypto-focused effort. 

Family offices are interested in virtual currencies, according to Goldman Sachs. The research firm claims that 50% of the family offices with which it conducts business are open to adding cryptocurrencies to its portfolio.

Billionaires have been steadily investing in the Bitcoin (BTC) ecosystem, including Carl Icahn, who recently stated that he might invest up to $1.5 billion in crypto, noting, “Bitcoin to me is just a store of value.” Furthermore, Alameda Research, a Hong Kong-based firm managed by FTX CEO Sam Bankman-Fried, saw the recent temporary drop in Bitcoin’s price to below $30,000 as an investment opportunity.

Fund issuers hold around 4% of the total BTC supply 

According to a new analysis, 14 BTC asset managers and fund issuers possess 4% of the overall Bitcoin supply, approximately 816,379 BTC, which is worth around $40.1 billion. The Grayscale Bitcoin Trust leads the pack with 654,600 BTC or roughly over 3% of the total BTC supply. CoinShares’ XBT Provider comes in second with approximately 48,466 BTC worth around $2.4 billion, accounting for 0.23% of the total BTC supply, while the remaining 12 fund issuers hold 113,313 BTC of the total supply.

Additionally, the data indicates that mainstream companies Tesla hold around 42,902 BTC, while MicroStrategy holds 108,992 BTC, and blockchain behemoth Block.one owns around 140,000 BTC. In total, the mainstream companies have accumulated BTC worth around $14.2 billion in recent months as mainstream adoption of crypto gathers steam.

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