Friday, July 1

The great Spanish fortunes bet on bitcoin by investing in euros

The cryptocurrencies they make a place in the investment portfolios of the great Spanish fortunes. And in an increasingly significant way. However, in most cases, your bet does not go through positions to use in bitcoins or other digital currencies. With their euros it is worth it.

Instead of launching into a cryptocurrency portfolio, more and more holders of large wealth are opting for infrastructure projects and applications linked to this universe as a formula for your entry into it. Thus they participate in the emergence around bitcoin and its younger sisters without the need to make any direct investment in digital currencies with the regulatory, tax and accounting complications that could occur.

This trend that is now beginning to settle in Spain has a wider path in other countries where cryptocurrencies have a greater trajectory and diffusion. For a long time in the US, numerous institutional investors have found this way the best formula to join this fever while strictly complying with the current restrictions to operate with these digital assets.

The trigger

The question has come to the fore due to some of the names that have backed the latest round of financing from Criptan, a Valencian fintech that has placed itself among the brands’made in Spain‘more consolidated and leading within the universe of cryptocurrencies. Circumstances that make many voices in the industry predict that history will repeat itself many times hereafter.

The Valencian fintech unveiled on Tuesday the participation of great men of finance and business such as Juan Roig, founder and president of Mercadona; Angel Corcóstegui, former CEO of Banco Santander; Y Jose Maria Castellano, former vice president and former CEO of Inditex. Three names that could prove decisive in propping up this trend and encouraging bigger fortunes to make the leap.

And it is that in reality this is a formula that several institutional investors have been practicing for a long time and it is prescribing from numerous investment advisory firms. Even after the National Securities Market Commission (CNMV) has clarified some valid formulas to bet more directly on cryptocurrencies as an asset.

In this sense, the bet through capital in infrastructures and applications of the universe cripto not only overcomes regulatory impediments. It also allows these large investors save yourself from strong volatility which is used to setting fire to the evolution of bitcoin prices and the altcoins.

New formulas

In other words, this formula allows large wealth and professional investors to bet on the potential of cryptocurrencies in terms of their progressive adoption as a new asset class regardless of the future of its price. A less speculative route but one that could yield more sustained and predictable returns.

The firms in the sector also expect a hatching in this way, so they are also developing specific products for this type of investor who wants to participate in the rise of cryptos but without direct positions. One of the clearest examples is in the still recent launch of Bit2Me Capital, an investment vehicle with a vocation for venture capital in projects of blockchain and cryptocurrencies.

Within this same trend, other national managers are also working, either for express request of some of its clients or as a way to attract new participants. In this sense, firms such as Mutuactivos or Rentamarkets, the manager headed by Emilio Botín O’Shea, have demonstrated in recent months, which this week has recognized plans to launch a medium-term fund designed in accordance with these guidelines.

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