BXB Capital to launch new fund in July

four assorted cryptocurrency coins — *Four of the (imaginary) Bitcoin needed to hit the 1,000 target*

BXB Capital are to launch a new fund in July, and it is a crypto hedge fund that is co-founded by J.J. Petersen and Alex Friedberg, who are also the co-founders of Binance Korea, the Korean arm of the world’s largest crypto exchange. BXB Capital is not your typical crypto fund. Unlike most funds that raise capital in fiat currencies and trade in various crypto assets, BXB Capital is raising capital exclusively in Bitcoin and will also only trade in Bitcoin and provide returns in Bitcoin.

This means that investors who participate in the fund will not have to worry about converting their fiat into crypto or vice versa, and they will also benefit from any appreciation of Bitcoin’s value over time.

The fund has a target of raising up to 1,000 BTC, which is equivalent to around $27 million at the current price. So far, the fund has secured around 400 BTC, or roughly $10 million, from investors who are high-profile crypto figures, according to Petersen and Friedberg. The fund will use various trading strategies to generate profits in Bitcoin, such as arbitrage, market making, and algorithmic trading.

The fund’s co-founders have a track record of successful crypto ventures. Petersen and Friedberg started trading the ‘kimchi premium’, a phenomenon where the price of Bitcoin in South Korea is higher than other markets, back in 2017 and 2018. They also launched the first stablecoin backed by the Korean won, called KRWb, in 2019. In 2020, they co-founded Binance Korea, which later shut down due to low trading volume but returned to the market earlier this year after acquiring a majority stake in GOPAX, a local crypto exchange.

Petersen and Friedberg believe that Bitcoin is the ultimate store of value and that more investors are shifting their mindset from accumulating more fiat to accumulating more Bitcoin. They see their fund as a unique opportunity for investors who want to earn more Bitcoin without exposing themselves to risky lending or yielding products.

If you want to learn more about BXB Capital and its bitcoin-focused fund, you can visit their website at bxb.capital or follow them on Twitter at @BXBCapital.

Bitcoin and Ethereum: Security or Commodity?

brass colored metal padlock with chain — A security lock, not a security you can trade…

Some interesting chit chat is going on in the USA at the moment as the Commodity Futures Trading Commission (CFTC) on March 27^th once again referred to Ethereum as a commodity. The backdrop to this is the CFTC lawsuit against Binance for violations of the Commodities Exchange Act and CFTC regulations.

The classification of Ethereum, Bitcoin and other cryptocurrencies as a security or commodity is an important one as it impacts on which body regulates crypto.

To start, it’s important to understand what a commodity and a security are.

A commodity is a raw material or primary agricultural product that can be bought and sold, such as gold or oil. This is long-term good for crypto, potentially.
A security, on the other hand, is a financial instrument that represents ownership in a company or a promise of repayment with interest. Examples of securities include stocks and bonds. This is long-term bad for crypto, potentially.

Now, when it comes to Ethereum and Bitcoin, there are arguments on both sides of the debate. Some people argue that they are commodities because they are used as a medium of exchange and have a finite supply. Like gold or oil, their value is determined by supply and demand in the marketplace.

However, others argue that they are securities because they were initially sold through initial coin offerings (ICOs) and their value is tied to the performance of the underlying blockchain technology. This is where things get a bit murky because the definition of a security is somewhat broad and can include any investment contract that involves the expectation of profit from the efforts of others.

This is not a story that is going away anytime soon. Watch this space.

Important note: The comments reported here do not constitute financial advice and are opinions only. Always seek independent financial advice before investing, and never trade or invest with money you cannot afford to lose.

Live Cryptocurrency Prices

Name	Price	24H (%)
Bitcoin (BTC)	$44,069.00	5.25%
Ethereum (ETH)	$2,263.53	2.54%
Tether (USDT)	$1.00	0.03%
BNB (BNB)	$230.80	0.19%
XRP (XRP)	$0.62	2.16%
Solana (SOL)	$63.38	5.06%
USDC (USDC)	$1.00	0.05%
Lido Staked Ether (STETH)	$2,263.50	2.53%
Cardano (ADA)	$0.444363	11.15%
Dogecoin (DOGE)	$0.103060	15.41%

Bitcoin Price Climbing Again: Is It Time To Buy?

Bitcoin has been enjoying a revival recently, with the Bitcoin price up by 17% in the past month. At the time of writing, the Bitcoin price is hovering around the $28,000 mark. This takes the market capitalisation of Bitcoin up to a whopping $535,541,123,890 USD at the time of writing.

Speculation is rife that the upward trend for Bitcoin will continue, bearing in mind the current troubles in the global banking industry. The recent collapse of Silicon Valley Bank has spooked global markets, giving rise to fears that the banking industry is out of control in a way similar to that which precipitated the 2008 global financial crisis.

Credit Suisse is another bank to hit the rocks, albeit Credit Suisse is one with an older and more venerable history than Silicon Valley Bank. The rapid takeover of the troubled Credit Suisse by UBS has calmed some fears, but the question investors across the world need to be asking right now is: are any more banks going to hit the wall?

It’s our view that Bitcoin and other cryptocurrencies will benefit from an uplift in value on the back of this uncertainty as more and more people, once again, turn to decentralized currency as a an essential way of creating a more stable economic environment. The whole point of cryptocurrencies is that the responsibility for the stability of the currency sits with the generally public, through their mutual confidence in the system, and not with policy makers who risk inspiring a lack of confidence in the global banking system.

It’s worth bearing in mind that back in 2021, at the peak of its price climb, the Bitcoin price hit over $67,000. If confidence in global banking remains shaky, it is possible we might see a slow and steady creep back towards those lofty heights.

Live Cryptocurrency Prices

Name	Price	24H (%)
Bitcoin (BTC)	$44,069.00	5.25%
Ethereum (ETH)	$2,263.53	2.54%
Tether (USDT)	$1.00	0.03%
BNB (BNB)	$230.80	0.19%
XRP (XRP)	$0.62	2.16%
Solana (SOL)	$63.38	5.06%
USDC (USDC)	$1.00	0.05%
Lido Staked Ether (STETH)	$2,263.50	2.53%
Cardano (ADA)	$0.444363	11.15%
Dogecoin (DOGE)	$0.103060	15.41%