Bitcoin is getting a lot of traction in the financial sectors, and private institutions are willing to adopt it and launching projects around it. Something similar is going down with the venture capital firm Andreessen Horowitz as it is about to propose a new $1 billion crypto fund, and the source of the articles can be found in financial times. According to the initial report, the company is looking to build a volume of about $800 million or about $1 billion from the investors, and when all the necessary documentation and approvals are done for the fund, it will go live, and it will definitely kick up the overall trading that is taking place around Bitcoin and other cryptocurrencies out there.
The Crypto Market might see some Stability with the New Fund
VC Andreessen Horowitz is practically very serious when it comes to the investment around the crypto sector and the blockchain base, and it has already invested in a number of different projects already so they have enough experience with the crypto market and hence are willing to take another go. Apart from investing in various crypto-oriented projects, the firm is also known for going heavily into investing for Coinbase, and since then, they have offloaded about $120 million of their Coinbase stock, and the company is listed around $11 billion in terms of the asset at the time of the listing. It came to light around April 2020 that the firm was going for a crypto fund based around $450 million, and then it ended up securing almost $515 million for their fund.
Now again, the firm is initiating another crypto fund, but this time, it will be twice as large and broad as the last fund they did put out. Bitcoin has taken a good charming and stance over the crypto market in terms of improving its dominance and price-performance; more and more investors are chiming in with their investment, and they want to load all of it into the crypto market. This is one of the driving forces behind all these funds prepared and then offloaded onto the market for the public to chime in and other crypto-related projects that are going on.
