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Canada’s Rivemont Crypto Fund Holds 90 Percent of Its Assets in Fiat

Canada’s rivemont crypto fund holds 90 percent of its assets in fiat

Canada’s Rivemont Crypto Fund Holds 90 Percent of Its Assets in Fiat

Canada’s rivemont crypto fund holds 90 percent of its assets in fiat

Canada-based Rivemont Crypto Fund, run by a portfolio management firm Rivemont Investments, holds around 91 percent of its $2.3 million of assets in fiat currency, with only 9 percent in Bitcoin (BTC), Bloomberg reported July 17.

The Rivemont Crypto Fund was founded in December 2017 and is reportedly the only actively managed cryptocurrency fund in Canada. The fund is registered with the Ontario Securities Commission, the Alberta Securities Commission, the British Columbia Securities Commission, and is allowed to trade such cryptocurrencies as BTC, Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH) and Ethereum Classic (ETC). The fund also plans to invest in initial coin offerings (ICOs) and altcoins like Neo and Dash. Rivemont Crypto Fund’s president and portfolio manager Martin Lalonde said:

“The core will probably still be the major cryptocurrencies because that’s what the investors know about and want in their portfolio, but I would think another half of the portfolio would probably be in smaller cryptocurrencies, more speculative ones, and some that we think will probably have better performance.”

Lalonde told Bloomberg in an interview that he invested slightly more than a half of the fund’s assets in BTC and ETH when BTC crossed a technical indicator on July 4, and then moved back into cash when it crossed the indicator again on July 10. Lalonde said, “the cryptocurrency market right now is not really in a bull market so people are waiting to see if it’s going down further.” Lalonde added:

“Those who think that interest in cryptocurrencies is running out of steam are not watching closely. The opposite is happening.”

As per Lalonde, BTC will stay volatile, however it will reach new highs in the next couple of years. “We’re very bullish, we think it could easily double or triple from where it is right now,” he said.

Today BTC is trading around $7,309, up almost 10 percent over the 24-hour period at press time. The leading cryptocurrency has pushed beyond yesterday’s peak trading price of $6,679, with the upward trend continuing at press time.

As Cointelegraph reported earlier this month, data from Autonomous Research shows that the number of crypto-focused funds was estimated at 251 as of April 2018, 175 of which were launched in 2017. In 2018, only 26 new funds have been established, signalling a possible downtrend in momentum.

Published at Tue, 17 Jul 2018 22:15:00 +0000

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Adam Back: Blockstream ‘Has No Patents Related To SegWit’

Blockstream CEO Adam Back has refuted claims by Swedish Pirate Party founder Rick Falkvinge that the company “has patents in SegWit.”

 Pirate Party’s Falkvinge: Blockstream SegWit Support Driven By Patents

In a Twitter response Monday, Back stated Blockstream “does not have any patents, patent applications, provisional patent applications, or anything similar, related to segwit.”

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Falkvinge, who is a staunch supporter of bigger blocks proposed by rival scaling solution campaigners bitcoin Unlimited, had earlier Monday released a dedicated post on his website arguing Blockstream’s SegWit support was for its own interests.

“Based on Blockstream’s behavior in the bitcoin community, I have become absolutely certain that Segwit contains patents that Blockstream and/or their owners have planned to use offensively,” he wrote.

Falkvinge Accuses Blockstream Of ‘Goalpost Moving’

The post accuses Blockstream of “classic goalpost moving” and employing behavior that “only makes sense” under a patent battle.

Falkvinge continues:

…Based on Blockstream’s behavior, I can say with dead certainty that I’ve seen this exact behavior many times in the past, and it’s always when somebody has a dual set of reasons – one for presentation and palate and another that drives the actual course of action.

Back’s Twitter retort appears to be lifted from previous comments on Reddit left by core developer Greg Maxwell.Maxwell

“As is the case for other major protocol features, the bitcoin developers worked carefully to not create patent complications. Segwit was a large-scale collaboration across the community, which included people who work for Blockstream among its many contributors,” he continued.

Moreover, because the public disclosure of segwit was more than a year ago, we could not apply for patents now.

Maxwell reiterated that Falkvinge had previously made similar allegations, which he had addressed separately.

“In short, Rick Falkvinge’s allegations are entirely without merit and are supported by nothing more than pure speculation which had already been debunked,” he concluded.

A Clash Of Ideals?

Falkvinge meanwhile has remained bullish on bitcoin publicly, telling RT in February he expected bitcoin could take over up to 10% of the foreign exchange market.

In his post, however, a clear distinction is drawn between the classic bitcoin ethos and that of Blockstream.

“The owners of Blockstream are the classic financial institutions […] that have everything to lose from cryptocurrency gaining ground,” he wrote.

The conclusion is unescapable (sic) here: Blockstream’s constant goalpost shifting has had the underlying goal to have Blockstream’s owners effectively own bitcoin through patent encumbrance.

What do you think about Rick Falkvinge’s claims about Blockstream? Let us know in the comments below!

Images courtesy of Shutterstock, Twitter

The post Adam Back: Blockstream ‘Has No Patents Related To SegWit’ appeared first on Bitcoinist.com.

Head of Research at BitWise: Most Cryptos “Will Die”

Head of Research at BitWise: Most Cryptos “Will Die” Matt Hougan, the head of research at BitWise, has declared that the crypto bubble will burst soon and that 95 percent of cryptos will die, in […]

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