A Hong Kong based cryptocurrency company, Bixin Global, has unveiled a fund with nearly $66 million worth of bitcoin, (6600 BTC).
The main aim of the venture is to increase its bitcoin amount by investing in global quantitative trading funds whose strategies are based on arbitrage, bitcoin futures contracts and trend analysis.
Bixin is a financial services company that provides lending escrow and exchanging for cryptocurrency firms.
It started life as one of the earliest companies that specialised in Bitcoin mining.
The firm invested in mining hardware firm, MicroBT back in 2018 who are a direct competitor to the current market leader, Bitmain.
a serious contenders against mining giant Bitmain’s dominance in bitcoin miner hardware business.
It hopes to work together with other companies in the space specifically in the areas of mining operations in general.