Bitcoin, the virtual currency that’s popular for its high-speed transactions, is one of the most hotly anticipated new markets for investors.
The digital currency has gained traction in recent years and has gained the attention of investors like hedge fund manager Tim Ritter, who has been building his own cryptocurrency-focused hedge fund.
Ritter has been in the cryptocurrency space for more than a decade, and he’s been bullish on bitcoin for the last few years.
He’s been working with several cryptocurrency companies, including BitGo, Coinbase, and Kraken, in hopes of creating his own fund.
“I’m building a fund that will be a full-fledged hedge fund,” Ritter told Business Insider.
The fund will be based on Bitcoin Cash, which is a hard fork of the Bitcoin blockchain.
“The bitcoin ecosystem has been growing and evolving, so the idea that we can build something with Bitcoin Cash and not have to deal with the volatility of bitcoin, it was exciting,” he said.
Riter’s cryptocurrency-oriented hedge fund, Ritter Capital, aims to be a diversified portfolio of hedge funds focused on the cryptocurrencies and blockchain.
He said the company will also be investing in a bitcoin ETF.
Ritters investment strategy for the bitcoin hedge funds was inspired by the hedge fund strategy that the company ran in the early days of the bitcoin market.
The Ritter fund, he said, will be focused on “diversification in Bitcoin and Blockchain.”
“We’re going to have to be diversified in the funds that we’re investing in,” Ritters hedge fund said.
“And I think a lot of people are just not seeing it.
They don’t know how to diversify.”
The fund is also looking to capitalize on the recent price surge in bitcoin, which has been driven by a number of factors.
“Bitcoin is trending up,” Riter said.
The value of bitcoin has increased by more than 1,100% since the beginning of the year, with the average price up about $5,000, according to data from CoinDesk.
“If you look at the past 10 years, the price has fluctuated quite a bit,” Rittters hedge fund told Business Insider.
Ritthers fund is using the funds for investment in digital assets, including cryptocurrencies.
He also has an interest in blockchain technology, and said he will be looking to invest in cryptocurrencies.
Ritters hedge funds is now planning to focus on bitcoin, the digital currency, and blockchain tech.
“We think that Bitcoin is going to be the currency of the future, so that’s where we are focused,” Rithers hedge fund wrote in a blog post.
Rits hedge fund has raised more than $30 million from investors, including some of the biggest names in the tech industry, including PayPal co-founder Peter Thiel, and Facebook co-founders Mark Zuckerberg and Sheryl Sandberg.
The hedge fund recently announced it was launching an investment vehicle called RITERCO, which it said will provide access to bitcoin for companies seeking to grow their business.
RITERS fund, which Ritter said will also invest in a digital asset fund, is also using the fund for investment.
“At RITERO, we believe that there are some great opportunities in cryptocurrencies,” RITERTERS hedge fund stated on its blog.
“One of the main reasons we are building our portfolio is that the digital asset industry is going through tremendous growth.
The potential to be able to utilize blockchain technology for both financial and economic applications is tremendous.”
RITEREFS fund is focused on blockchain tech, too.
The investment vehicle will focus on Bitcoin, RITES hedge fund explained.
“It’s a great investment opportunity,” Ritzers hedge fund added.
“You can see this digital asset that we have developed in Bitcoin that’s on the cusp of a significant change in its history.”
Ritter’s hedge fund plans to use the funds to invest into companies that are looking to take advantage of the new developments in the blockchain space.
“Blockchain technology is really taking off right now and we see it as a really good vehicle for the future,” Rits fund stated.
RITS fund is currently looking to fund companies that will use the blockchain technology in new ways, Riters hedge funds stated.
“Companies that are interested in developing these new products, we’re looking at them and trying to help them with that,” RITTERS hedge funds said.