Bitfury is intending to start a Bitcoin mining fund in Japan after it started the same in North America a month ago.
Bitfury is a firm interested in cryptocurrency mining and blockchain development. The plan to start the Bitcoin mining fund in Japan has been slated for July. This was made known by Katsya Konno, the firm’s head in Japan, on June 10
As tension continues to rise over the fate of traditional financial markets, more investors are turning to cryptocurrency investment as a way out.
But it has been a bit difficult for Japanese residents who have been hoping for a means to get indirect exposure to Bitcoin as offered by a recognized financial institution.
The first set of beneficiaries of this offering will be institutional investors which comprise family offices, religious bodies and entrepreneurs managing small and medium-sized businesses. Later on, retail clients will also benefit from the Bitcoin mining fund.
Konno wishes the funding can start immediately and he is optimistic it will yield good results.
To ensure that this will obey the regulations set up by Japanese authorities, a Special Purpose Company has been created to call for investments.
Nippon Angels Investment will manage the funds obtained from the investment. Nippon Angels Investment is recognized by the Financial Services Agency of Japan. The advisors to the new funds will be Anderson Mori and Tomotsune.
Bitfury’s move to Japan comes after it started the same offering last month in North America.