First it was George Soros, now it's Rockefeller
Venrock (a Rockefeller company) announced that they will be investing in cryptocurrencies going forward.
Venrock is a venture capital firm created by the Rockefeller family in 1969 to capitalize on the successful investing activities of the Rockefeller family that started back in the 1930's.
Venrock is currently a 3 billion dollar firm, but it wasn't always that way...
The firm started with a mere $1 million investment, but after several major winners along the way, the firm became worth roughly $3 billion as of today.
The firm was founded by the grandson of John D. Rockefeller, who brought his siblings together to launch the family firm.
The firm to enter the cryptocurrency space?
The firm recently announced that they will be investing in the cryptocurrency markets as well as new crypto related projects.
Specifically, Venrock announced that they will be partnering with CoinFund, which is a venture capital fund that invests in companies that use blockchain technology. To date, one of their greatest success stories is that of KIK, which is a widely used chat app that recently launched its own cryptocurrency.
David Packman, one of the fund's partners had this to say regarding their cryptocurrency investment plans:
"Venrock isn't interested in short-term gains, but rather the long-term future of crypto. Venrock is making a multi-million dollar bet on cryptocurrencies being part of our daily lives in the future."
There you have it, Venrock isn't interested in speculating on the hot crypto of the day.
Instead, they are looking at more from the venture capital side. IE helping promising projects raise funds and making very large returns when those projects eventually reach maturity.
(Source: https://bitcoinexchangeguide.com/rockefellers-venture-capital-venrock-to-invest-in-cryptocurrencies/)
Think that sounds like wishful thinking on their part?
Well take a look at some of the other success stories of Venrock.
Venrock was an early stage investor of both Apple and Intel long before they were household names.
Currently, they are invested in Nest and Dollar Shave Club. Both of which have grown to multi billion dollar valuations after Venrock got involved.
Venrock has had a very astute eye in the past when it comes to evaluating potential investments and it seems the crypto industry has caught their eye as of late.
I would not be surprised to hear that many other venture capital firms start to follow their lead into the space as this does appear to be a major growth area going forward.
It appears the underlying infrastructure continues to strengthen despite the recent price declines that seem to be happening just about every day.
More about the news can be found here:
https://www.rt.com/business/423559-rockefellers-soros-rothschilds-cryptocurrency-investment/
Stay informed my friends.
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That is great. The more big names continue to announce they are entering the space the more acceptable it will be to call it an asset class allocation.
yeah the tide is changing! hodl :)
Creo es que es un buen momento para comprar y guardar varias criptomonedas, cuando este tipo de noticias salen a luz publica por lo general tienden a disparar los precios!!
Usually when these people say something they do the opposite.
So if they says that they will invest, its to bring more people in the market so they can steal there money.
They want to boost the prices so they can get out with huge profits.
Let them boost the prices. This time it is not only them to profit from it in this decentralized world.
Yes good point. Let them boost the prices all they want. There is plenty of other money looking to come in. We are talking about a $250 billion market. These guys have a couple billion to play with, market is already too big for them to control.
jrcornel, one of the best posts I've read. Quite amazing that the Rockefellers were early investors in Nest and Dollar Shave Club, the first of which was remarkable in that it beat out many competitors before being sold at a pretty penny to google and the second which was remarkable for its viral marketing and huge growth.
These billionaires are buying up the infrastructure of the next crypto bull run.
Well you have heard it said..." Follow the money"...... If a wealthy family like that is zeroing in on cryptocurrency, than it's a long haul deal. They planning years ahead by setting up shop.
Suspicious and not surprising. but watch out. Also in crypto they want to rule the world.
This is just the start.
People think the 'big players' won't invest in crypto, yet fail to realise wars are literally started to make money.
Big players only cares about more money, not where or how they make it.
Keep in mind that the idea of timelines for these types of multi-generational wealthy families is much different than our own. It's likely their short term is our long term, and their long term goes beyond a lifespan.
Yes, that is a great point.
Some of you are suspicious of these people and of their involvement in crypto. I am too. They have already messed up the fiat money, and crypto is a good solution for us to get some financial independence! As long as it left free, unmanipulated - it is a great tool to keep our economies going.