Investment firm Sora Ventures announced what it says is Asia’s first dedicated bitcoin $BTC$112,436.56 treasury fund, with plans to buy $1 billion worth of the cryptocurrency in the next six months.
The announcement was made during Taipei Blockchain Week, where the firm revealed $200 million in initial commitments from investors across the region.
The fund will serve as a central pool of capital for strengthening Asia’s network of bitcoin treasury firms, the company said. A number of companies in the region already manage their own bitcoin treasuries, the largest of which belongs to Tokoy-based Metaplanet (3350) at 20,000 $BTC.
coindesk.com