Bitcoin is considered a haven from hyperinflation for Hispanics – at least two new cryptocurrency Fund opened in 2017 to meet the needs of wealthy people in Latin America, said in a local report.
While both funds located abroad, the majority of their clients are family offices from Argentina, Central America, Mexico and the Caribbean.
«Latin America is very unstable, – said the founder of the Italian hedge Fund Solidus Capital Carlos Mosquera. – Cryptocurrency turn into a new refuge for her.»
In contrast to East Asia and other parts of the world who are actively interested in bitcoin this year because of rising prices and volatility in Latin America, the cryptocurrency is largely regarded as a means of protection from economic uncertainty.Cryptocurrency trading also implies the ability to bypass the strict measures of capital controls, in particular, Venezuela.
According to the report, the second in the number of investments of the Latin America Fund Crypto Assets in Miami, which started operations in September. Its founder Roberto Ponce Roman is convinced that the cryptocurrency will become a new asset class like stocks and bonds. He founded his own company ten years ago and previously held the position of Manager of consulting firm Bain & Co.
Stock Fund Ponce»s Crypto Assets Fund, which, according to him, already has $15 million in cryptocurrency acts as a passive index Fund holding each asset by its market capitalization. He also plans to open another cryptocurrency Fund in 2018 to increase passive Fund up to $50 million and to raise $100 million, focusing exclusively on bitcoin.