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Bitcoin Company Could Pour Billions of Dollars into the Market on That Date: 3 to Start! - Coin Bulletin
Bitcoin (BTC) development company Blockstream announced that it will launch three new investment funds, two of which will focus on cryptocurrency loans.
One of the funds launched under the leadership of Adam Back, one of the co-founders of Blockstream and legendary Bitcoin developers, will offer Bitcoin-collateralized loans, while the other will allow borrowing of cryptocurrency with U.S. dollar collateral. The third fund will be an investment vehicle implementing hedging strategies.
According to Bloomberg's news based on anonymous sources, Blockstream has provided funding of several billion dollars to start these funds. The company plans to launch the funds in April and start accepting external investments in July.
The cryptocurrency credit market had suffered a major blow with the collapse of the former cryptocurrency exchange FTX. Many major cryptocurrency credit platforms had gone bankrupt due to misleading balance sheets and unrecoverable debts. Blockstream's new venture aims to restore credibility in this field.
Two of the funds will be directly open to borrowing and will offer various financial opportunities to cryptocurrency investors. This move by Blockstream could contribute to the restructuring of the credit market in the cryptocurrency ecosystem.