The venture capital company of Crypto Sora Ventures has announced a Bitcoin cash flow fund of $ 1 billion and said that it was planning to acquire the total amount in the six months.
Friday at the Taipei blockchain week, the founder of Sora Ventures, Jason Fang, unveiled what he called the “first Bitcoin cash fund of 1 billion Asia” during a discussion entitled, presenting a BTC strategy in the main stock markets in Asia.
Sora said the fund is supported by a capital commitment of $ 200 million in the region’s institutional partners. In an article shared by FANG, the company said it was aimed at accelerating the adoption of bitcoin among business treasury bills.
Cointelegraph stretched out Sora Ventures for more information, but did not receive an answer before the publication.
Sora ventures to create a centralized institutional bitcoin swimming pool
Unlike the efforts specific to the region to stack Bitcoin (BTC), Sora Ventures envisages the fund serving as a centralized institutional vehicle to reproduce Bitcoin cash models first through Asia and beyond.
Fang noted the growing interest in the Bitcoin vouchers of institutions in the United States and the EU, while efforts in Asia have remained fragmented.
“This is the first time in history that institutional money has met, from local to the regional, and now to a world scene,” he said.
The announcement indicates that the Treasury Fund will become an institutional capital basin designed to support existing companies and fuel the creation of similar treasury bills around the world.
The company also declared that it would strengthen support for the first pioneers of the Bitcoin Treasury in Asia while developing outwards. He added that this would create synergies between local and international treasury bills to strengthen the role of Bitcoin as a reserve in all markets.
In relation: Bitcoin Treasury Pivot raises the stock of luxury watchmaker more than 60%
The biggest corporate bitcoin holders in Asia
At the time of writing the time of the editorial staff of Japan Metaplanet remains the largest holder of Bitcoin d’Asia business. The company bought 1,009 BTC on Monday, pushing its total assets to 20,000 bitcoin, worth around 2.2 billion dollars at current market prices.
Bitcointareries.net data show that some of the biggest BTC holders in Asia include Cango Inc., with more than $ 570 million in BTC, and Bitfufu, which contains more than $ 200 million in Bitcoin.
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