Billionaire Nixon’s Seek Capital to Boost Its Crypto Investments

Billionaire Nixon’s Seek Capital to Boost Its Crypto Investments

As reported by Bloomberg, British entrepreneur Simon Nixon with a net worth of $1.2 billion (in assets in the tech sector) intends to boost his investments in crypto assets via his family office as crypto becomes more and more welcome by the world’s wealthy people.

Seek Capital seeks to hire a crypto analyst and buy more crypto

NEW | Billionaire Simon Nixon wants to increase his crypto investments as more of the world’s ultra-rich embrace digital assets via @crypto— Bloomberg Crypto (@crypto) August 26, 2021

Nixon’s family office in London plans to hire a crypto analyst who would be able to focus on the digital assets sector. The firm’s managing director Adam Proctor also joined the company from a non-crypto financial sphere, leaving behind a private bank of Citigroup.

Seek Capital’s interest in crypto has been pretty high this year, despite the massive correction on the market when Bitcoin rebounded by over fifty percent in mid-summer. However, Bitcoin has recently touched on the $50,000 level again and Ethereum, ADA, Dogecoin, etc, have also started rising as crypto adoption has been spreading wider. ADA, for example, has been added by Grayscale Investments as its third largest investment.

Aside from hiring a crypto analyst, Seek Capital plans to boost its crypto portfolio – they believe this class of assets will be important in the future.

Family offices’ interest in crypto is surging

According to a recent survey made by Goldman Sachs and cited by Bloomberg, almost fifty percent of the family offices that banking giant works with want to invest in cryptocurrencies. They see crypto as a likely hedge against the inflation that may increase in the future.

Other billionaires are also seeking to boost their crypto holdings. In late fall 2020, Mexico-based Ricardo Salinas Pliego announced that he would put a large part of his liquid assets in the flagship cryptocurrency Bitcoin.

Cryptology Asset Group, that includes a family office of Mike Novogratz and Christian Angermayer, also intends to put $100 million in crypto assets in the next few years.

Novogratz himself is an early investor in Bitcoin and Ethereum. He bought ETH back in 2015 from the co-founder Vitalik Buterin when ETH was trading at $0.99 and was the first investor from the Wall Street to do that.