Canada-Based Rivemont Crypto Fund Holds Only 9% Of Its Investments Fund In Bitcoin (BTC)

The Canadian-based Rivemont Crypto Fund, managed by a Rivemont The cryptocurrency investments management firm, holds about 91 percent of its $2.3 million in trust assets, with only 9 percent in Bitcoin (BTC), as recently reported by Bloomberg.

The Rivemont Crypto Fund was founded in December 2017 and is reportedly the only actively managed cryptocurrency fund in Canada. The fund is registered with the Ontario Securities Commission, the Alberta Securities Commission, the British Columbia Securities Commission, and is licensed to operate in cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), XRP (XRP), Bitcoin Cash (BCH), and Ethereum Classic (ETC).

The fund also plans to invest in Initial Currency Offerings (ICOs) and alternative currencies such as Neo (NEO) and Dash (DASH).

The kernel will probably remain the main cryptocurrency [BTC] because that’s what investors know and want in their portfolio, but I think another half of the portfolio would probably be smaller, more speculative cryptos, and some that we think will probably have a better return.

Martin Lalonde, Rivemont Crypto Fund President and Portfolio Manager

The Rivemont Crypto Fund President thinks Bitcoin (BTC) will double or triple its value in the next two years

Lalonde told Bloomberg in an interview that he invested just over half of the fund’s assets in Bitcoin (BTC) and Ethereum (ETH) when BTC crossed a technical indicator on July 4th, and then switched back

The cryptocurrencies market is not really in a bullish run at the moment, so people are waiting to see if it’s going to go any lower. Those who think that interest in cryptos is running out are not watching closely. The opposite is happening.”

Martin Lalonde

According to Rivemont Crypto Fund, Bitcoin (BTC) will remain volatile but will reach new highs in the next two years, and it would maybe double or triple from where it is right now.

At the moment of this writing, Bitcoin (BTC) is trading at around $7,400, an increase of almost 10% in the last 24 hours.

As unveiled earlier this month, data from Autonomous Research show that the number of funds focused on crypto was estimated at 251 in April 2018, 175 of which were launched in 2017. In 2018, only 26 new crypto-related investments funds have been established, indicating a possible downward trend.

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About the Author: Anna Galvez

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