Bitwise gains $70 million from Series B funding round

An American crypto investment firm has bagged $70 million from its Series B funding round.

A photo of Bitwise’s logo

A cryptocurrency investment firm founded in 2016 by Hunter Horsley, Bitwise Asset Management, has raised a whopping $70 million through a Series B funding that was led by tech investor, Elad Gil and Electric Capital, a cryptocurrency venture fund.

Other heavy-weight investors in the financial sector that were involved in Bitwise’s Series B funding round are Third Point LLC, Stanley Druckenmiller, Henry Kravis, David McCormick, and Nadeem Meghji.

The CEO of Bitwise, Hunter Horsley, stated that one of the company’s core intentions is to create stronger ties with financial advisers that are capable of providing educational resources for clients due to the important role they play in fostering the adoption of cryptocurrency by individual investors.

Hunter further emphasized the importance of cryptocurrency trading and investing becoming as easy as stocks, EFTs, and even bonds due to the prediction of the number of crypto owners skyrocketing in America within the next ten years.

Bitwise didn’t explicitly mention any projects that the funds raised from its just-concluded Series B funding would be used for.

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