Dubai-based cryptocurrency investment firm FD7 Ventures announced that it will sell $ 750 million worth of Bitcoin. The company will buy Polkadot (DOT) and Cardano (ADA) to replace the sold Bitcoins.
FD7 Ventures, which has $ 1 billion in assets under its management, will realize the sale of Bitcoin within 30 days. The company states that Polkadot and Cardano could be a better choice for customers who want to diversify their portfolio.
“Bitcoin has no use”
Prakash Chand, the company’s managing director, said he believes Bitcoin has no benefit. “Bitcoin may be the first cryptocurrency to hit the market,” said Chand. People may say it is a store of value, but I think Bitcoin has no function. ” said.
These altcoins will surpass bitcoin
Prakash Chand; He claims that Ethereum, Polkadot and Cardano will be valued enough to surpass Bitcoin in a few years. According to Chand, these 3 cryptocurrencies will form the basis of the developing internet. While supporting this claim, the general manager cited his time spent with successful experts in the cryptocurrency industry as an example. Among the cryptocurrency experts mentioned in the announcement are Polkadot founder Gavin Wood and Cardano founder Charles Hoskinson.
About FD7 company
Founded on February 12, FD7 company serves crypto money users who want to diversify their portfolio. Company; aims to focus on projects in the fields of blockchain, web 3.0 and cryptocurrency.
“We’ve seen how the cryptocurrency industry has grown since 2011. Demand is increasing. As the industry grows, some risks arise and people are looking for reliable investment alternatives. We also aim to provide our customers with a risk-free and safe investment experience.