Ether Capital Increases Portfolio Stake with Pledge of 8000 ETHs
It is reported that Ether Capital, a Canadian listed company, announced the pledge of 8000 new ETHs. So far, Ether Capital has pledged 36000 ETHs, accounting f…
It is reported that Ether Capital, a Canadian listed company, announced the pledge of 8000 new ETHs. So far, Ether Capital has pledged 36000 ETHs, accounting for 79.4% of its investment portfolio. （Business Wire）
Canadian listed company Ether Capital pledged 8000 new ETHs
Interpretation of the news:
Canadian listed company Ether Capital has announced the pledge of 8000 new Ether (ETH) tokens, adding to the 28,000 ETHs already held and taking its total to 36,000. This increase means that ETH now represents 79.4% of Ether Capital’s investment portfolio. This move can be seen as a bullish endorsement of the Ethereum blockchain, and may prompt similar moves from other institutional investors.
Ether Capital was founded in 2017, with the intention of investing in Ethereum-based projects and infrastructure, as well as supporting the development of tokens running on the Ethereum blockchain. It sees its role as promoting the adoption and growth of Ethereum as a decentralized technology that could one day rival Bitcoin as the world’s leading cryptocurrency.
This is not the first time that Ether Capital has bought large amounts of ETH. In October 2020, the company bought 2500 ETH tokens, worth approximately CAD 900,000, at a time when Ethereum was valued at around $380. The recent purchase raises the question of whether Ether Capital is anticipating a surge in the value of Ethereum in the near future.
This news is significant as it speaks to institutional investor confidence in cryptocurrencies, especially Ethereum. Cryptocurrencies have long been considered highly speculative, volatile and risky assets, and institutional investors have traditionally been wary of including them in their portfolios. However, with the increasing adoption of cryptocurrencies and blockchain technology, institutional investors are slowly shifting towards the industry, with some recognizing the potential for returns that are, comparatively, very high.
The fact that Ether Capital is making such significant investments in Ethereum is a sign that the cryptocurrency is being increasingly viewed as a legitimate asset class. This will likely encourage other institutional investors to follow suit, which could further bolster the value of Ethereum.
In conclusion, Ether Capital’s announcement of its latest pledge of 8000 ETH is a positive indicator of growing institutional adoption and support for Ethereum, and a significant step forward for the cryptocurrency. It may also signal the emergence of Ethereum as a more widely accepted and mature asset class, with increasing institutional investor demand.
Reference:
https://www.businesswire.com/news/home/20210212005456/en/Ether-Capital-Announces-Pledge-of-8000-ETHs%E2%80%94Bringing-Total-to-36-000-ETHs-Representing-79.4-Percent-of-Investment-Portfolio
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