Rockefellers Join Soros & Rothschilds In Cryptocurrency Investment Plans

Despite the collapse in cryptocurrency prices since the beginning of the year (bitcoin is down more than 60% and ethereum down more than 70% from their ATHs), more marquee investors have decided that now is the time to buy in.

Last week, we noted that George Soros had taken some time out from his battle of wills with Hungarian Prime Minister Viktor Orban to grant one of his underlings approval to begin trading in crypto. Adam Fisher - who oversees macro investing at New York-based Soros Fund Management - has reportedly received internal approval to trade virtual coins in the last few months, "though he has yet to make a wager."

Soros's involvement followed reports last year that the Rothschild family had waded into the space - first by purchasing bitcoin exposure via the Grayscale Bitcoin Trust.

Their involvement is a sign that regulators around the world might be relaxing their stance toward crypto, as one prominent crypto entrepreneur and investors pointed out

Now, the latest bold-faced investor to unveil plans to invest in the space is the Rockefeller family (the descendants of Standard Oil founder John Rockefeller). CoinTelegraph reports that the family's venture capital fund has partnered with CoinFund to invest in "cryptocurrency and Blockchain business innovation".

The news triggered a jump in crypto prices...

Chart

Sending bitcoin back above $7,000....

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Here's more, courtesy of CoinTelegraph.

Venrock, the official venture capital arm of the Rockefeller family, has partnered with crypto investment group Coinfund to support cryptocurrency and Blockchain business innovation, Fortune reported April 6.

image courtesy of CoinTelegraph.

Coinfund has recently added token-based financial services platform Coinlist, a spinoff of startup connection website AngelList, to the number of projects that it backs. Coinfund is also known for backing chat messenger app Kik, which raised almost $100 mln in the Initial Coin Offering (ICO) of its Kin token last fall. Fortune notes that Venrock and Coinfund met through their mutual investment in the live video streaming app maker YouNow.

When asked about Bitcoin’s (BTC) recent failure to strongly stay above $7,000, Venrock partner David Pakman told Fortune that the price of “a single currency over the next day, week, month, year” is not what they thought about when deciding to partner with a crypto investment group:

"We’re really patient long term investors [...] we’re wondering what happens over the next five to ten years. Can we have fundamental change to a number of different markets because of a disturbed ledger, a token economy that all participants can take part in?"

According to an April 6 blog post by Pakman, cryptocurrency and Blockchain’s most important innovation is their creation of “the possibility of building sustainable decentralized computing platforms, services and apps”, writing:

"It may finally be possible to build widely-distributed networks without centralized trust or control, and to allow user consensus to govern their future [...] In this scenario, ‘commodity’ applications like messaging, social media and application infrastructure like file storage and compute become very much like public utilities — and they are owned and governed by their participants. For many of us, this is the mission behind crypto."

When asked by Fortune about the potential for scams running ICOs, specifically mentioning the recent news of the Centra-related arrests, Pakman referred to the crypto ecosystem as a “wild space up and down the whole stack,” with ICOs as “certainly one of the most wild spaces of it all.”

Pakman added that he supports regulations of the crypto sphere in order to clear out the “bad actors,” but that one needs to be careful not to “throw the baby out with the bathwater here”.

Pakman also noted that decentralized systems could eventually be a competitor to traditional venture capital fundraising, which he referred to as "effectively a gatekeeper industry" that he would "actually like to see undone", adding:

"I don’t believe that a small group of people should make the decisions about which projects can raise some money and get off the ground."

Coinfund co-founder Jake Brukhman told Fortune that Coinfund will be “working closely with [Venrock] to help mentor, advise, and support teams in the space.”

Major traditional investor George Soros, who had previously referred to Bitcoin as a “bubble,” will also reportedly be investing in cryptocurrencies, through the Soros Fund Management. In mid-February, Soros’s investment fund become the number three shareholder in Overstock, a retail company that accepts Bitcoin as payment and whose CEO Patrick Byrne is widely known for his pro-crypto stance.

Comments

Boing_Snap joego1 Sun, 04/08/2018 - 23:11 Permalink

The elitists have been in it from the start, they own the majority of the exchanges, miners and coins. With this announcement they're now getting out of the public coins and positioning for the government issuance, the government of course they own as well.

The Digital Currency Group a private company that runs the above operations, tied to Larry Summers and NY Fed board member Hutchins.

nuf said

https://dcg.co/who-we-are/

In reply to by joego1

fx glenlloyd Mon, 04/09/2018 - 02:15 Permalink

" Can we have fundamental change to a number of different markets because of a disturbed ledger, a token economy that all participants can take part in?" "

 

haha, yeah, disturbed ledger. Lot's of people who believed that cryptos were anti-establishment tools should feel very disturbed now...

In reply to by glenlloyd

lookslikecraptome thisandthat Mon, 04/09/2018 - 05:54 Permalink

I told the libertarian change the world order coineratti, when I first got onto hedge, that the big boys would own it, and kill their dumb ass, live in their mom's basement hallucinatory dreams. dumb ass idiots with not one shred of credible real world analysis among the lot of those sad people. The establishment does suck. I am anarchistic, but i would never buy the Amway bullshit from the 1%ers who own bitcoin. Those coineratti yammer on about science when it is all about money and controlling resources. This is just one more pump and dump in an unregulated market. 

I am waiting for some monkey that can say they bought tires with cryptos for the lambos they say they own but do not. 

Ask the fool who sold his 500K house for cryptos in December how his store of value is. 

Last I heard 19 to 7 is still a loss of 12. 

In reply to by thisandthat

Ajax-1 Thought Processor Sun, 04/08/2018 - 22:22 Permalink

Bingo. Migrating towards a Digital Crypto Currency has been their plan for a long time. Entities such as Bitcoin were conceived, implemented and financed by the Rothchild's as test pilot programs to identify potential problems before the roll-out of Fed-Coin. If anyone doubts me, just take a look at how the banksters were able to manipulate crypto currency platforms via the futures market. Undoubtedly, the Block Chain is changing the world and the evil globalist know it. Bitcoin is just something waiting to be improved, or replaced by something better. A Bitcoin wallet will one day be as valuable as my Pet Rock from grade school.

In reply to by Thought Processor

CPJindex globalintelhub Mon, 04/09/2018 - 00:01 Permalink

globalintelhub;

Waddaymean "behind the curve"?

My thought is this; I reckon these guys had already joined the party last year and it has been their money that might have pumped the market to its highs in December and then the same guys sold out to crash it down to shake out all the weak hands...bastards!

I really don't think they would announce they are going into something BEFORE they had already got into that something up to their neck??

At least now there should be some major price rises (again) especially after mid April when all the armature traders have finished selling off enough cryptos to pay their capital gains tax bills because they didn't set aside their tax liabilities...a fact that I am sure these vulture bastards are well aware of, especially by the timing of their announcement (last 5 days before the deadline).

We shall see (I hate those vicious bastards, but am prepared to tolerate them for a while if they cause me to get rich...I'll just hate em later!)

In reply to by globalintelhub

dark pools of soros Sun, 04/08/2018 - 22:15 Permalink

Doesn't mean that all crypto will go up.. they will be picking their winners and most likely investing into applications running on blockchain and not really currency.   They are probably nervous that something like Telegram is going to take over the space and want to grab other parts of the landscape before they miss out.

 

It is always about control of areas

 

spooz Sun, 04/08/2018 - 22:22 Permalink

New world order globalists duped the useful idiot libertarians to move their agenda forward, convincing them that social benefits are for losers.  Eventually we all end up being interchangeable, redundant worker units, easily replaced by robots, and sovereign currencies, along with nation states, become history.