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Dan Tapiero Launches $200M Fund to Invest in Crypto Companies
Tapiero is joined by Michael Dubilier and Stan Miroshnik.
By Zack Voell
Updated Sep 14, 2021, 12:06 p.m. Published Feb 3, 2021, 9:54 p.m.
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Investor and entrepreneur Dan Tapiero is launching a $200 million fund called 10T Holdings to invest in cryptocurrency startups.
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- The long-time bitcoin advocate filed to launch the new fund Tuesday, per documents from the U.S. Securities and Exchange Commission.
- Tapiero's filing comes amid a stampede of other institutional interest in investing and building in the cryptocurrency industry as bitcoin has returned gains near 300% in the past year.
- In addition to Tapiero, the filing lists as investors longtime investor Michael Dubilier and Stan Miroshnik, former CEO of crypto-focused advisory firm Argon Group.
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BlackRock's digital assets head: Leverage-driven volatility threatens bitcoin’s narrative
Rampant speculation on crypto derivatives platforms is fueling volatility and risking bitcoin’s image as a stable hedge, says BlackRock’s digital assets chief.
Ce qu'il:
- BlackRock digital-assets chief Robert Mitchnick warned that heavy use of leverage in bitcoin derivatives is undermining the cryptocurrency’s appeal as a stable institutional portfolio hedge.
- Mitchnick said bitcoin’s fundamentals as a scarce, decentralized monetary asset remain strong, but its trading increasingly resembles a "levered NASDAQ," raising the bar for conservative investors to adopt it.
- He argued that exchange-traded funds like BlackRock’s iShares Bitcoin ETF are not the main source of volatility, pointing instead to perpetual futures platforms.
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