Bitcoin Capital, a venture capitalist fund managed by financial journalist, Max Keiser, has passed the $1m mark on BnkToTheFuture, a crowd-funding platform.
The crypto-fund has three days of fundraising left and has already got nearly 600 backers. Backers can invest as little as $1000 and are collectively being offered 50 per cent equity in the fund.
A third of the money raised will be invested directly into Bitcoin mining. The mining will be done at Bitcoin Capital’s institutional mining rig in Iceland. Investors will be able to receive daily Bitcoin dividends from their investments.
Simon Dixon, CEO and co-founder of BnkToTheFuture, joins Max Keiser in the investment.
Dixon said, in an interview with Tech City News, the appeal of Bitcoin as a transaction method lies in the fact that investors can receive daily dividends that are paid automatically rather than having to go through the process of setting up numerous bank transfers that are associated with other transaction methods.
Bitcoin startups that are looking for investment from the VC fund will have to first raise a small amount of money using Keiser’s own reward-based platform StartJOIN as proof of concept. They will then have to crowdfund on BnkToTheFuture. Only after that will they be considered for investment from Bitcoin Capital.
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