Bitcoin 2022 Will the real maximalists please stand up?
May 11, 2022
Andreessen Horowitz closes $4.5 billion crypto fund amid market turmoil
Venture capital player Andreessen Horowitz, or a16z, has unveiled a new $4.5 billion cryptocurrency fund. The a16z fund is the fourth of its kind and more than double the amount of its third crypto investment fund. With $3 billion earmarked for venture investments and $1.5 billion for early-seed projects, the fund will look to invest in companies at various stages in their life cycle. Andreessens new fund provides a strong indicator that venture capital interest in the crypto market remains high despite evidence of a brutal bear market.
JPMorgan (NYSE:JPM) places BTC fair price at $38K, declares crypto a preferred alternative asset
A client-focused note from JPMorgan this week detailed the banking giants thoughts on Bitcoin, claiming $38,000 as the assets fair value. The seemingly bullish outlook came on the heels of depressed price action for Bitcoin, which has been rangebound below $30,000. But even in February, when BTC was valued at $43,000, JPMorgan strategists said that $38,000 was fair market value. This weeks client note from JPMorgan also pointed to the possibility of positive price action for the entire crypto space provided venture capital investment doesnt waver.
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