FD7 Ventures, a prominent Dubai-based crypto investment fund, elucidated that it had completed the acquisition of $380 million worth of Cardano token. It employed the funds it received from selling its Bitcoin holdings. The Cardano acquisition news arrives after the firm introduced a micro-fund. It will concentrate on investments in projects developing on Cardano (ADA) and Polkadot (DOT). The investment fund also inaugurated a new office in Bengaluru, a city popularly considered India’s IT hub.
Moreover, FD7 Ventures, which professes to be holding $1 billion in digital assets under management, unveiled plans in February to unload $750 million worth of their Bitcoin holdings to purchase the two altcoins. The decision is part of the fund’s strategic road map to expand its cryptocurrency space portfolios. With offices in Toronto, Canada, and Dubai, UAE, FD7’s team drives investments in all steps of blockchain and crypto projects. It operates cryptocurrency assets for high-net-worth investors. While Bitcoin offers more robust long-term opportunities, the popular cryptocurrency has grown into a relatively mature asset. That is why thriving alternative coins have attracted investor interest.
Will Cardano and Polkadot surpass Bitcoin?
Conversing about Cardano’s acquisition, FD7’s Managing Partner, Prakash Chand, enumerates that he prophesies “the price of Cardano (ADA) and Polkadot (DOT) could rise to approximately 20X within the next 2-3 years.” Chand has also contributed a huge deal of time with the most brilliant minds in crypto. Moreover, he thinks Cardano and Polkadot can develop significant disruption over industries in the coming years. He believes that institutional money will move into Cardano, Polkadot, and Ethereum at an adoption rate much quicker than seen with Bitcoin. It can transform Healthcare, Real Estate, Finance, and the systems that power the government with blockchain solutions.
Furthermore, the two tokens’ excitement was visible in the crypto sphere over the last few days. Polkadot’s price went an all-time high last week as network upgrades in early March enable its network to combine with other established blockchains such as Bitcoin and Ethereum. There is a lot to watch out for on the horizon, including Cardano (ADA). The token has been trading in a robust uptrend for the past few months. It’s forthcoming update will permit users to generate tokens from scratch on top of the Cardano Blockchain.
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