Seek Ventures is looking to increase its investments in the cryptocurrency market.
Seek Ventures wants to invest more in cryptocurrencies
English billionaire founder Simon Nixon is seeking to expand his investments in the cryptocurrency space via his venture capital firm. According to a Bloomberg report earlier today, Seek Ventures wants to boost its investments in cryptocurrencies as the firm feels it is an important area.
Adam Proctor, a managing director at Seek Ventures, said the VC firm wants to hire an analyst to focus on the cryptocurrency market. This latest development indicates a growing trend of family offices and venture capitalist firms entering the cryptocurrency market.
Some family offices and VC firms now consider Bitcoin to be a store of value and invest in it as a hedge against inflation. Carl Icahn invested over $1 billion in cryptocurrencies earlier this year, stating that they have good value.
More financial institutions are opening up to cryptocurrencies
The past year has seen numerous hedge funds, VC firms and home offices invest in cryptocurrencies. The cryptocurrency market is still in its early days, and analysts expect more investments to flow in over the next few years.
Corporate entities have also started buying and holding cryptocurrencies. MicroStrategy remains ahead of the rest, with the company recently splurging another $177 million on bitcoins. The company has now spent nearly $3 billion on bitcoins.