Crypto’s have been a turbulent ride for most, I’m sure many people have lost a lot of money trying to trade them, some will have also made a lot of money, a lot of money !
Andreessen Horowitz, one of silicon valleys most famous venture capital firms & crypto bulls (The a16z crypto fund), will no longer be a venture capital firm, at least by legal definition. They have filed to become an Investment Advisor, this removes the shackles of the SEC from them controlling how much of anything deemed a ‘risky asset’, they can hold.
From the the firms crypto fund website “We plan to invest consistently over time, regardless of market conditions. If there is another ‘crypto winter,’ we’ll keep investing aggressively.”
And from Forbes “By renouncing its venture capital status, it’ll be able to go deeper on riskier bets: If the firm wants to put $1 billion into cryptocurrency or tokens, or buy unlimited shares in public companies or from other investors, it can. And in doing so, the thinking goes, it’ll again make other firms feel like they have one hand tied behind their back.”
Crypto seems to be the motivation for this move, will be interesting seeing what moves they make once the shackles are well & truly off…..