Founders Fund Believes Institutional Investors are Interested in Bitcoin
More Wall Street Investors may join the crypto markets
Founders Fund which is owned by Peter Thiel is betting that institutional investors are very interested in investing in Bitcoin and Cryptocurrency. Thiel’s startup capital firm maintains the largest portfolios in Silicon Valley and have made positive steps in investing in Tagomi Systems Inc. According to reports from Wall Street Journal, Tagomi is a startup which is aiming to provide electronic-trade guidance to all crypto investors. The startup is based in New York and has already filed the Ford D notice with the SEC.
Reports released May 1st indicated that Founders Fund was involved in the funding of Tagomi which resulted in 15.5 million dollars. The reports did not, however, reveal whether or not the Founders Fund led the seed round. It also did not reveal Tagomi’s business model. Reports from the Form D filed with the SEC, however, indicate that Founders managing partner Napoleon Ta is one of Tagomi’s directors.
Tagomi wants to facilitate high-speed electronic brokerage services for digital currencies to institutional investors and also to family financial services with over-the-counter operations. With the investment in Tagomi this the fourth startup which Founders Fund has invested in the cryptocurrency market.
Peter Thiel who is also a big investor in both Facebook and PayPal is a big believer in Bitcoin and the general digital currency market. In a recent interview with the Economic Club of New York, he stated that he was holding on Bitcoin terming it as the internet’s gold. According to Thiel: “I would be long Bitcoin more to neutral skeptical of everything else at this point with some expectations. There is one online this equivalent to gold and the one you would be on would become the biggest.”
Other than Tagomi Founders Fund has also invested in the tokenized platform Harbor. More to that they have also injected capital into the funds Polychain Capital and also to the Metastable Capital which is mainly focused on digital currency investment. The filing of Form D by Tagomi means that they have decided not to reveal their revenue range and also the securities offered by the venture firm will be disclosed as equity.