The Nasdaq listed Greenpro Capital Corporation has revealed plans to set up a bitcoin fund using $100 million in borrowed funds. In addition to the borrowed funds, Greenpro, through its subsidiary Cryptosx, says it plans to use its own cash resources to acquire the digital asset.
The financial services firm which has its headquarters in Hong kong joins the growing list of banks, hedge funds, insurance companies and institutions holding bitcoin. In a statement announcing plans to set up the fund, Greenpro shares its “belief that bitcoin, as the world’s most widely-adopted cryptocurrency, is a reliable future store of value.” The statement also adds:
We believe the strategic management of our balance sheet, combined with the implementation of our BTC Fund and crypto strategy will produce significant future value for the company.
Furthermore, according to the statement released on December 28, the firm’s CEO CK Lee has already instructed