Morgan Creek Digital’s Bold Move
In a financial landscape sprinkled with crypto-challenges and blockchain dreams, Morgan Creek Digital strides forward, having successfully raised over $61 million for their second blockchain fund. This ambitious initiative could potentially reshape the way investors engage with distributed ledger technologies.
SEC Filing and Fund Details
On October 18, the cryptocurrency asset management firm made its intentions clear by filing with the United States Securities and Exchange Commission (SEC). The Form D filing aims to secure an exemption for an ongoing offering that began on October 16. At the moment, 11 savvy investors have already jumped on the bandwagon, eager to be part of this pioneering venture.
Fundraising Goals and Future Rounds
Co-founder Anthony Pompliano, in a candid chat with Cointelegraph, shared that the fund’s ultimate ambition is to hit a whopping $250 million. This might seem lofty, but hold onto your virtual hats! The firm plans to embark on a new funding round in December, followed by a final round slated for the end of the first quarter in 2020. Essentially, they’re just getting warmed up.
Investor Highlights
In an impressive show of confidence, some key investors have more than doubled their contributions to the fund. When pressed for the names of the public pension funds involved, Pompliano revealed the Fairfax County Police Pension and Fairfax County Employee Retirement Pension as notable backers. But wait, there’s more! They also claim what they believe to be the first-ever hospital system in the U.S. to invest in a dedicated blockchain fund: WakeMed. Talk about healthcare meeting high-tech!
Continuing the Winning Strategy
Pompliano assured the crypto community that Morgan Creek will maintain the same strategic approach that served them well in their first fund, focusing on budding entrepreneurs in the early stages of their business journeys. They’re not just throwing money around; they’re committed to nurturing the next wave of blockchain innovation.
The Future of Bitcoin
Bitcoin enthusiasts, rejoice! Mark Yusko, founder and CIO of Morgan Creek Capital Management, has recently declared that the crypto markets are gearing up for a remarkable upward trajectory. He foresees Bitcoin climbing to around $30,000 before experiencing a minor correction, eventually paving the way toward a jaw-dropping $100,000 valuation by 2021. Just imagine the parties to celebrate these milestones!
Let’s not forget that Yusko’s optimism doesn’t stop there; he previously predicted a staggering $400,000 high for Bitcoin in the not-so-distant future. So keep your digital wallets ready and your eyes on the prize!
