Bitcoin Magazine Ventures has launched a Bitcoin ecosystem fund that has been oversubscribed to over $90 million.
（Powered By :
According to BlockBeats news on June 1st, Bitcoin Magazine Ventures, managed by David Bailey and Tyler Evans, is launching the world's first Bitcoin ecosystem fund. According to internal sources, the venture capital fund, which specializes in investing in the Bitcoin ecosystem, raised $30 million and has oversubscribed by $90 million.
The new fund emphasizes the development of the Bitcoin ecosystem and mainly invests in new applications, tools, and infrastructure such as Ordinals, Lighting, BRC20, DLC, and other UTXO-related elements. These innovations allow Bitcoin to adopt more flexible functions similar to Ethereum. Well-known venture capital firm Sora Ventures invested $3 million in the fund.
Amidst the market conditions where multiple projects have shut down and Eastern Capital is struggling, are the "a16z's" making high-profile appearances and frequent moves to buy low in the cryptocurrency industry?