Bitfury Allows Investors Access to Mining
Accredited investors (or institutional investors, as they’re often called) are widely considered to be among the primary ingredients in making bitcoin and other forms of cryptocurrency more mainstream and legitimate. However, institutional players have shown a great reluctance to enter the crypto investing space, likely due to the ongoing volatility that appears to plague the industry.
Many digital assets are prone to wild price swings that take them all over the map. Bitcoin, itself, has suffered greatly over the last two months, falling from $10K to about $3,800 in mid-March, only to jump back up into the high $9,000 range in late May. Still, the asset is now trading for just over $8,800, meaning its price changes remain relatively active.
Bitfury is allowing investors to invest in its mining centers, hoping this will attract more players to the scene. Mining is a more set-in-stone deal in that it will continue for the next several years until all 21 million BTC units are mined. Right now, the company is giving investors a chance to invest in its data centers in Norway, Iceland, North America, and central Asia.
Valery Vavilov – the CEO of the company – says that while he hopes this move will reduce the barricades blocking institutional players from getting involved in crypto, he’s also hoping the opportunity will give family offices an easy doorway to the crypto space. He comments:
While this offering is attractive to different types of accredited investors, we believe one of the groups that will benefit most from this offering is family offices. Our streamlined avenue to diversification is designed specifically for their portfolios – exposure to digital assets without any of the operational/ technical requirements of holding the digital assets/ infrastructure themselves.
Opening the Right Doors
Valery further explained that he believes this move from BitFury will help push bitcoin deep into mainstream territory and educate people on what BTC is and what it can do. He explained:
Bitcoin’s legitimacy as an investment vehicle is absolutely growing. Digital assets like bitcoin are becoming more attractive to high net-worth investors because of their long-term use and store of value. However, these investors were previously ‘locked out’ of being able to invest at scale because it required extensive set-up and operational knowledge, and/ or holding large amounts of bitcoin. The introduction of institutional offerings like Bitfury’s program introduced bitcoin to an influential audience, helping solidify it as an asset class and shoring up support for the network’s continued expansion.