Both the fintech and blockchain industries have grown in leaps and bounds over the past two years, with several projects establishing a strong foothold on the world stage. It’s becoming more common to receive news of investment received by such projects. Recently, it was revealed that Steve Bursuk, an Israeli businessman famous for being an investor in Southeast Asia, has substantially invested in a Ukrainian blockchain start-up.
Steve Bursuk, is originally from Tel Aviv. Among other projects, he has invested in real estate, advertising and technology ventures.
Implications of the Investment
Bursuk will invest over 25Mdebut investment into blockchain, and is expected to be a game changer in the start-up sector of this young industry. His entry adds to the long list of millionaire and billionaire investors turning their attention towards blockchain projects, which in turn should result in an increase in the general awareness and acceptability of the technology.
As more attention falls on blockchain globally, and private investors flock like birds to a feeder, we’ve already seen the formation of several investment funds over the last two years, including Blackrock’s cryptocurrency team and Coinbase’s courting of hedge fund money.
Indeed, the cryptocurrency market and management services are in great demand, with several Swiss Private Banks starting to offer their services. A June 2018 study found that about 61% of cryptocurrency investment funds were created in 2018 alone, with an additional 140 entities formed in 2017.
Receiving the substantial backing of a reputed and well-known investor like Steve Bursuk is considered to be an important and safe option for blockchain start-ups. It is certainly regarded as more advantageous than crowdfunding, which is regarded as an unstable form of capital collection, especially for blockchain companies where regulation framework remains in flux.
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