UK Billionaire Simon Nixon to Upraise Investments in Crypto
British Billionaire and co-founder of MoneySupermarket.com, Simon Nixon, intends to increase his investments in cryptocurrencies as the world’s ultra-rich embrace digital assets. According to Adam Proctor, a managing director for Nixon’s London-based firm Seek Capital, the family office aims to advance its crypto allocation.
According to the London-based venture capital firm Seek Ventures, Nixon manages more than $1bn of personal assets in the tech sector. Family offices have upheld their interest in cryptocurrencies this year, even as prices continue to fluctuate.
Seek Capital foresees Crypto as an important sector for the future. The office will also hire a dedicated analyst to focus on the sector.
Simon Justin Nixon is the Co-Founder and a General Partner at Seek Ventures. He is also the Founder of Moneysupermarket and holds the Non-Executive Deputy Chairman position. Simon took a position in the Board as Chief Executive Officer in April 2007 and the Deputy Chairman two years later. Later he became the Non-Executive Deputy Chairman in April 2013. Just like most investors, Nixon’s appetite for the cryptocurrency industry has only grown in the past year.
Why Good Times Lie Ahead
The world’s most popular cryptocurrency, Bitcoin, endured a heavy sell-off through June and July when the coin dipped below $30,000 – more than halving from its April all-time high of over $64,000.
The drip could have been triggered by the renewed regulatory scrutiny from Chinese authorities. The move made bitcoin mining operations shut down and move elsewhere.
Even so, Bitcoin has recovered this month. It hit $50,000 on Sunday, attaining an over 3-month high as the cryptocurrency continues to recover.
Meanwhile, bitcoin rivals, ethereum, Cardano’s ADA, Dogecoin, and Binance’s BNB were higher too, with Cardano hitting all-time highs as investors piled into the market.
Goldman Sachs, the leading global financial institution, recently did a survey that concluded that nearly half the family offices they do business with intend to adopt digital currencies to their investments. Closely held companies are betting on crypto as a potential hedge for higher inflation and prolonged low-interest rates.
Mexico’s third-richest person, Ricardo Salinas Pliego, noted that he had invested most of his funds in Bitcoin.
In a November Tweet, Salinas noted that many people ask me if he has bitcoins. He said he has 10pc of his liquid portfolio invested in it.
Michael Novogratz and Christian Angermayer’s family office are founders of Cryptology Asset Group, which committed to placing $100m over the next two years to crypto-related funds in June.
Source: Read Full Article