TechCrunch Founder Michael Arrington Launches XRP Capital Hedge Fund
What is Arrington XRP Capital?
It was announced earlier by the team at Ripple that Mr. Michael Arrington started his brand-new XRP capital. Arrington is the former editor and chief of TechCrunch. He decided to launch a $100 million dollar, denominated crypto fund. XPR capital fund is on the stage of being Consensus Investment Today.
The fund is naturally named Arrington XPR Capital and is now one of the largest crypto hedge funds in the world. Not only that, but it is a 100% denominated XPR. Also, the fund was started with one hundred million dollars and uses XPR to invest into new blockchain tech and other essential asset entities.
How Does Arrington XRP Capital Work?
Arrington made the decision to use XPR only to power his capital fund. Not only that, but he further pushes the validity of digital currency as being one of the biggest breakthroughs in history. He declares that is provides people with the best real-time monitoring system for transactions and security.
Also, factually speaking, XPR isn’t just ideal for providing much needed and appreciated liquidity, for payments across borders, but it’s also said to be the fastest and most scalable as well as digitally stable assets on the charts. This is said to make it to likely be the most appropriate system to be used in various institutions. The fund is said to start being traded soon, but as of yet there is no official date yet announced.
Michael Arrington did say that Arrington XPR Capital will invest into a large range and variety of cryptocurrency technologies and related assets. They will mainly be focusing on tokens. And not only that, but the fund will also be investing an unannounced portion of its assets into specific ICOs. And in addition, they will also be investing into more traditional assets and investments like private equity offerings.
Basically, they now have a hedge fund that is solely denominated in cryptocurrency. The reason this is so important to note is that it will make it much easier for important investors who are already holding cryptocurrency. Now, there will be zero need to convert back to fiat and then back to cryptocurrency again when making massive investments. It’s a much more cost effective and time effective way of operations.
The Bottom Line on Arrington XRP Capital
The announcement was made on Ripple. And although they currently have no direct role in the hedge fund, they are in full support of Michael Arrington’s decision to use cryptocurrency. They truly believe that his near legendary experience as an entrepreneur and undying spirit will easily create one of the largest cryptocurrency hedge funds using XPR.