Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- A venture capital fund backed by Saudi Arabia’s Public Investment Fund and Alibaba Group Holding Limited (NYSE:BABA) neared raising $1 billion to support technology start-ups in Asia and the Middle East.
- Saudi has a vast market, and China has Internet and technology companies that are preparing to expand globally, Bloomberg reports citing eWTP Arabia Capital founding partner Jerry Li in an interview.
- Also Read: Alibaba Jumps ChatGPT Bandwagon After Microsoft, Google And Baidu
- Founded in 2019, the fund raised $400 million for deals that year.
- The fund has already invested in 16 companies and plans to list three of them on the Saudi stock exchange and two in the U.S. next year, Li said.
- It created a $1 billion fund for venture capital firms and invested directly through its subsidiary, Sanabil.
- The PIF seeks to build a venture capital industry and encourage young entrepreneurs to set up their businesses to diversify the economy and create jobs.
- Price Action: BABA shares are trading higher by 3.37% at $108.65 premarket on the last check Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!