{"id":37072,"date":"2021-02-26T11:17:03","date_gmt":"2021-02-26T09:17:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37072"},"modified":"2025-08-29T09:40:11","modified_gmt":"2025-08-29T06:40:11","slug":"dubai-based-investment-fund-to-divest-750m-in-bitcoin-to-boost-cardano-and-polkadot-holdings","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/dubai-based-investment-fund-to-divest-750m-in-bitcoin-to-boost-cardano-and-polkadot-holdings\/","title":{"rendered":"Dubai-based investment fund to divest $750m in Bitcoin to boost Cardano and Polkadot holdings"},"content":{"rendered":"<p>FD7 Ventures, a Dubai-based crypto-investment fund with assets under management of $1 billion, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210225005902\/en\/Global-Crypto-Investment-Fund-FD7-Ventures-to-Sell-750M-USD-Worth-of-Bitcoin-to-Increase-Cardano-and-Polkadot-Holdings\" target=\"_blank\" rel=\"noopener\">announced<\/a> plans to sell Bitcoin worth $750 million to increase holdings in Cardano and Polkadot.<\/p>\n<p>The conversion is expected to take place within 30 days and be completed by mid-to-late March.<\/p>\n<p>According to the press release, increasing exposure to altcoins \u201cwill better satisfy the needs of FD7&#8217;s investors, who are seeking to diversify their portfolios in the growing crypto space.\u201d<\/p>\n<blockquote>\n<p>\u201cApart from the fact that Bitcoin was first to the market, and society has recognised it as a store of value, I think it is actually somewhat useless. Projects such as Cardano, Polkadot and Ethereum are the backbone of the new internet and Web 3.0,\u201d said Prakash Chand, managing director of FD7.<\/p>\n<\/blockquote>\n<blockquote class=\"wp-embedded-content\" data-secret=\"JxYYpMxcxg\">\n<p>What is Cardano (ADA)?<\/p>\n<\/blockquote>\n<p><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"\u00abWhat is Cardano (ADA)?\u00bb \u2014 ForkLog\" src=\"https:\/\/u1f987.com\/cryptorium\/chto-takoe-cardano\/embed#?secret=iSeL96kZzN#?secret=JxYYpMxcxg\" data-secret=\"JxYYpMxcxg\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe><\/p>\n<p>In a statement, the company named Charles Hoskinson and Gavin Wood, the founders of Cardano and Polkadot respectively, \u201ctwo of the brightest minds in the modern crypto space.\u201d<\/p>\n<blockquote>\n<p>\u201cI\u2019ve been fortunate to spend a lot of time with the industry\u2019s brightest minds, and I\u2019d bet that Ethereum, Cardano and Polkadot will become more significant than Bitcoin in the coming years,\u201d added Chand.<\/p>\n<\/blockquote>\n<p>As noted, clients of investment banks Goldman Sachs, JPMorgan and UBS <a href=\"https:\/\/u1f987.com\/en\/news\/wall-street-clients-pile-into-polkadot-via-etps\">invested in Polkadot<\/a> via a listed product (ETP) based on the coin from 21Shares.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/twitter.com\/ForkLog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FD7 Ventures, a Dubai-based crypto investment fund with assets under management of $1 billion, announced plans to sell Bitcoin worth $750 million to increase holdings in Cardano and Polkadot.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1401,1156,52,1461],"class_list":["post-37072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cardano-ada","tag-institutional-investors-and-whales","tag-investments","tag-polkadot-dot"],"aioseo_notices":[],"amp_enabled":true,"views":"32","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37072","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=37072"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37072\/revisions"}],"predecessor-version":[{"id":37073,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37072\/revisions\/37073"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=37072"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=37072"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=37072"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}