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Billionaire Henry Kravis Makes Investment in Crypto Investment Fund, Focused on Blockchain

Henry Kravis, a Billionaire with an alleged net worth of around $5.8 Billion as of July 2018, has started to invest in the cryptocurrency and digital asset domain, as per a report published by Bloomberg on June 28.

Blockchain and Cryptocurrency Fund ParaFi Capital

A former employee of Kravi’s KKR & Co, Ben Forman stated that the billionaire has invested in the flagship fund for ParaFi Capital, which is a blockchain-centric investment firm. Notably, ParaFi Capital is based out of San Francisco.

Interestingly, Forman mentioned that he aims to continue virtual asset and cryptocurrency investing at his new firm. He commented that while he toyed with the thought of hunting blockchain investing within KKR, it was comprehensible to him that the firm did not make available the best possible format to do so. He added that instead of pursuing cryptocurrency and blockchain at KKR, he wanted to build the KKR of cryptocurrency and blockchain.

It is to be noted that ParaFi purportedly manages around USD 25 million in assets. Outstandingly, Forman anticipates quadrupling its Assets under Management by Quarter1, 2020.

Interestingly, the net worth of the Winklevoss twins, the famous founders of the Gemini virtual asset and cryptocurrency exchange, lately hit more than a billion dollars because of the fresh recovery in the digital asset and cryptocurrency market.

Bitcoin [BTC] Price Surge, Bullish Market?

Nevertheless, the bitcoin [BTC] price lately plunged down to over $10k before gradually beginning to surge again. Interestingly, a number of analysts are nonchalant by this sink. Some are of the opinion that it is in accordance with an continuing bull run for the foremost virtual asset or cryptocurrency.

Robert Sluymer, the managing director and technical strategist at Fundstrat, remarked on the fresh situation of the digital asset and cryptocurrency market. He mentioned that a twenty to thirty percent pullback would not be startling and incredibly consistent with latest bull-market pullbacks of BTC.

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