First Block Capital Launches First-Ever Bitcoin Fund

- October 3rd, 2017

First Block Capital’s founder Marc van der Chijs speaks about the advancements in the crypto-product space and how his company is a key player as the first licensed investment manager to launch Bitcoin funds in Canada.

First Block Capital’s founder Marc van der Chijs speaks about the advancements in the crypto-product space and how his company is a key player as the first licensed investment manager to launch Bitcoin funds in Canada.

First Block Capital Founder Marc van der Chijs: My name is Marc van der Chijs, I’m the founder of First Block Capital. First Block Capital is an asset management company and it is the first licensed investment manager in Canada for crypto-products like bitcoin. We launched bitcoin funds about two weeks ago, in early September, and these are funds specifically for accredited investors all over the world. We think these are going to be potentially billion dollar funds.
What are three important things that investors should know about your company?
MvdC: What they should know is that we’re the first and only bitcoin fund in the world. It’s the only way to invest in bitcoin in real funds and open-end funds where every dollar spent is being put into bitcoin automatically. Second of all, what people need to know is that it can be used for your RRSP and TFSA self-directed accounts, which is quite important for most people. The third is that it’s not listed yet but we plan to list it in the very near future.
What is one factor that makes this fund unique?
MvdC: What makes it really unique is that it’s the only fund in the world, the only open-ended fund in the world where you can invest in bitcoin. So the only way to buy bitcoin is through exchanges or over-the-counter, now people can buy it directly and put it in a brokerage account and see it on monthly statements.
What major near-term milestone or catalyst should investors be on the lookout for?
MvdC: I think that one catalyst is that some countries will start using bitcoin as legal tender and if that’s going to happen, the price of bitcoin is going to explode. It already went up 400 percent this year, and I think we’re going to see prices 10 times to 20 times the current price within the next two years.

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