Now AMC in France to invest in Bitcoin for diversification
Shital Jibhe / 27 Nov 2017
Even as a French AMC Tobam plans to launch a fund that will invest in Bitcoin (the most popular and largest cryptocurrency by market cap) the debate on its future takes centre stage amongst the global investing community as its price nears $10,000.
Even as a French AMC Tobam plans to launch a fund that will invest in Bitcoin (the most popular and largest cryptocurrency by market cap) the debate on its future takes centre stage amongst the global investing community as its price nears $10,000.
Tobam – whose website message reads, 'Diversification is our only bet' announced the launch of Europe’s first bitcoin mutual fund. The fund will be called Tobam Bitcoin Fund and it will fall under unregulated alternative investment fund. Only HNIs and institutional investors can invest in such funds. The company plans to hire crypto-currency experts, computer specialists, engineers, researchers and risk management experts to manage the fund.
Bitcoin is a virtual currency that is making headlines for the last two years. In case, Bitcoin manages to cross $10,000 in this year, the cryptocurrency will deliver returns as high as 1267 per cent. Already trading at $9,667 bitcoin is up by 1221 per cent in the last 12 month period.
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