Paradigm and Galaxy Digital, two major investment funds in the field of cryptocurrency, are in the process of raising capital to establish a new fund. According to sources from Bloomberg, Paradigm plans to raise $850 million, while Galaxy Digital aims to raise $100 million.
Galaxy Digital, a veteran investor with more than 200 million USD poured into more than 100 cryptocurrency projects in the past 6 years, shows strong confidence in the market. Billionaire Mike Novogratz, head of the fund, affirmed that Bitcoin was unlikely to fall below $50,000 last month.
Michael Novogratz, CEO, Galaxy Digital, Photo by Seb Daly / RISE via Sportsfile
Paradigm is famous for leading or participating in many funding rounds for potential cryptocurrency startups such as Friend.tech, Ronin, Aevo, etc. If successful, Paradigm's $850 million fund will become an investment fund. largest cryptocurrency since the LUNA-UST crash in May 2022.
This event shows investors' confidence in the development potential of the cryptocurrency market, despite short-term fluctuations.
