Greenpro Capital Corp. To Launch $100m Bitcoin Fund
Greenpro Capital Corporation will launch a Bitcoin Fund, after announcing it has issued its legal team to raise a minimum $100 million.
The Nasdaq-listed financial services firm will be issuing corporate notes and its own capital to buy the BTC necessary for the launch.
According to the announcement, Greenpro shares its belief that the Bitcoin Fund will ‘produce significant returns for the company,’ while holding it on its balance sheet will help preserve its value more than cash over time.
‘[Greenpro believes] in the on going mass adoption of Bitcoin by banks, hedge funds, insurance companies and institutions and endorses its belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a reliable future store of value.’
‘We believe the strategic management of our balance sheet, combined with the implementation of our Bitcoin Fund and crypto strategy will produce significant future value for the Company.’
‘GRNQ believes that $BTC and other top crypto currencies such as Ethereum “ETH” will provide the opportunity for better returns and preserve the value of our capital over time rather than holding cash.’
Greenpro CEO CK Lee said, ‘We fully believe in Bitcoin as a store of value. I’ve instructed our investment bankers to raise debt in Q1, 2021 of up to US$100 million to invest in Bitcoin. The Company will also invest its own cash into Bitcoin.’
Greenpro Capital Corporation
Greenpro Capital Corporation is a business incubator with a diversified business portfolio comprising finance, technology, banking, health and wellness and fine art.
Headquartered in Hong Kong, and with further offices in Kuala Lumpur, Shenzen, and Bangkok, while the Greenpro stock (GRNQ) is listed on Nasdaq.
The company offers ‘cross-border business solutions, spinoffs on major stock exchanges and accounting outsourcing services to small and medium-size businesses located in Asia.’
Greenpro has recently launched CryptoSx an exchange platform for STOs. The crypto platform is assisting companies in STO listings, STO secondary trading and further down the line it will be launching its own DeFi business, with services such as crypto lending on offer.
Nobody Wanted To Be First, But Nobody Will Want to Be Last
Greenpro joins the growing list of banks, hedge funds, insurance companies, institutions and other public companies holding Bitcoin (BTC) as part of a fund or on their balance sheets.
The amount of money coming from large public companies is incredible. With 572,644 bitcoins Grayscale’s Bitcoin Fund (GBTC) is now worth $18.134 billion, and was the first fund to gain traction in the institutional world.
Other public-listed companies, such as MicroStrategy, Guggenheim and MassMutual have invested heavily into Bitcoin, and with US banks set to custody Bitcoin (BTC) this year, it’s clear the wall of money coming is going to grow significantly.
On the scale of it, Greenpro is a relatively small Bitcoin fund, but it’s another public company gaining exposure to Bitcoin and offering high-net worth individuals, especially in Asia, another way to gain exposure.
From July 2020, Bitcoin has been on an extended bull run as these large corporations take it in turns to announce they are buying Bitcoin as part of their balance sheet or upping their Bitcoin funds.
And the best thing is, we are only just starting.
Author: Tommy Limpitlaw
Why should I buy Bitcoin?
Bitcoin is a peer-to-peer money that nobody can manipulate. It’s all set in the Bitcoin codebase which is secured by hundreds of thousands of computers all around the world. Bitcoins can be sent by anybody and no third party is need to verify the transactions, and nobody can stop Bitcoins being sent.
How much should I invest in Bitcoin?
Bitcoin is a new technology, and an asset that is finding its value. It has great potential, but the price is volatile, so investing in it should only be for those who understand it and have faith in it. And only invest as much as you can afford to lose.
Can I get rich from Bitcoin?
You can get rich from Bitcoin, but most people haven’t. Anybody who expects to get rich, especially from a little investment, will likely be disappointed. Bitcoin isn’t a get rich quick scheme, and should be seen as a risky and volatile asset that could bring gains for anybody who can stomach volatility. If you’re interested in and want to buy Bitcoin, you should really have a long term plan.
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A Bitcoiner since 2017 and a Bitcoin Maximalist since 2018, Tommy is our main writer and editor at Bitcoin Maximalist. Other than researching and writing about Bitcoin, Tommy loves spending time with his family and supporting his beloved Leeds United.