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A Dubai-based Crypto Fund To Sell $750 Million In BTC To Increase ADA And DOT Holdings
Summary: Among the Bitcoin buying boom, one crypto fund plans to sell its BTC holdings. FD7 Ventures, a Dubai-based global crypto investment fund announced today that it plans to sell $750 million worth of Bitcoin within the next 30 days to increase its holdings in Cardano (ADA) and Polkadot (DOT). The company said that the increase ...
Among the Bitcoin buying boom, one crypto fund plans to sell its BTC holdings.
FD7 Ventures, a Dubai-based global crypto investment fund announced today that it plans to sell $750 million worth of Bitcoin within the next 30 days to increase its holdings in Cardano (ADA) and Polkadot (DOT).
The company said that the increase in these altcoins will better meet the needs of FD7 investors for portfolio diversification.
Prakash Chand, Managing Director of FD7 Ventures, said: "Aside from the fact that Bitcoin was first to market and society has given it meaning as a store of value, I think Bitcoin is actually pretty useless. Projects such as Cardano, Polkadot, and Ethereum are the foundation of the new internet and Web 3.0."
FD7 Ventures said it is expected to complete the position swap in mid to late March.
By Mary Liu
Tags: ADA,Bitcoin,Cardano,DOT,Ethereum,FD7 Ventures,Polkadot
Link: A Dubai-based Crypto Fund To Sell $750 Million In BTC To Increase ADA And DOT Holdings [Copy]
