With Bitcoin quite a bit down from where it was even a couple of weeks ago, there’s still interesting and diverse news coming out of the Bitcoin market.
For example, today experts are talking about a brand-new offering from a German firm Xolaris, which announced yesterday that they are launching a private equity fund based on Bitcoin mining.
That’s interesting timing, since some U.S. mining platforms have had to shut down over low Bitcoin prices this month.
In the meantime, Xolaris opened a new Hong Kong office and now is expanding its fund offerings with an option exclusive to Bitcoin!
In a press release, the company talks about how clients still want to get involved in cryptocurrency, regardless of Bitcoin prices, and what kinds of options they want:
In the press release, written in German, Stefan Klaile, Board Member Portfolio Management, XOLARIS Service KVAG, makes a statement translated by an online bot to read:
“From the side of professional investors was repeatedly brought to us the desire to create a regulated product in the field of cryptocurrencies.”
Cointelegraph translates this statement much better:
“We’ve constantly received requests from professional investors to release a regulated product for the cryptocurrency sphere.”
By investing in a Bitcoin mining farm in Sweden, Xolaris is boosting its own involvement in mining operations.
The new German fund has a pretty high price tag, and these are wealthy investors coming into play. There’s a minimum entry amount of €250,000, but the company plans to ultimately issue from €30 million to €50 million of Bitcoin.
While this news from Germany might invite caricatures of German investors shouting “Ve demand ein regulated product!” – it’s not for nothing that the German economy has a reputation for stringent standards and regulation.
As the European powerhouse, the German economy is a bellwether for many other things. German interest indicates that there is a role for stable and regulated cryptocurrency funds in the market.
This also provides more confidence for long-term Bitcoin enthusiasts. If the U.S. and China are downgrading existing operations due to low prices, not everyone is on board with that program, and that in itself creates a higher chance of some rebound in the near future.
Bitcoin today lags historic prices at just under $4000, a measly value compared to its $8400 high in August and its price peak last December at nearly $20,000. Nevertheless, more than a few investors are contending that this low price point is a great time to make an entry.
Keep an eye on prices and values and news around the world to understand the context around how Bitcoin will fare in the coming year.
