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Genesis Mining Launches First Bitcoin Mining Fund for Accredited Investors
Genesis Mining, founded in 2013 and based in Hong Kong, has announced the launch of the world's first Bitcoin mining fund aimed at accredited investors. The fund, named the Logos Fund, requires a minimum investment of $25,000 and will invest in various Bitcoin-related companies.
Marco Streng, CEO and co-founder of Genesis Mining, stated that the fund will not only focus on Bitcoin mining but may also invest directly in Bitcoin. The fund is structured as a private pooled investment fund and is managed by Logos Capital Fund, which was established on February 16. The fund aims to provide a simple and secure way for investors to gain exposure to Bitcoin mining without the complexities of hardware and software configuration.
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“Bitcoin opens up entirely new possibilities. We are just beginning to understand how far-reaching this will be.” — Marco Streng, Genesis Mining
In compliance with SEC regulations, the fund will verify the accredited status of its investors through documentation such as tax returns and bank statements. This ensures that investors are fully aware of the risks involved in their investment decisions.
Key Takeaway: Genesis Mining's Logos Fund represents a significant development in the cryptocurrency investment landscape, providing accredited investors with a new avenue for exposure to Bitcoin mining.
Block to Announce Three-Year Financial Outlook and $5 Billion Stock Buyback Program
Block is set to reveal its three-year financial outlook during its investor day event in San Francisco. The company will also announce an expansion of its stock buyback program by $5 billion as part of its capital allocation strategy.
The event will include a live stream and recording available on the official website, allowing investors to stay informed about the company's future financial plans and strategies.
Key Takeaway: Block's upcoming investor day is anticipated to provide valuable insights into its financial trajectory and commitment to shareholder value through the significant stock buyback program.
Hammack: Monetary Policy Must Remain Restrictive Due to Inflation
According to US Federal Reserve banker Harker, monetary policy must remain somewhat restrictive due to ongoing inflationary pressures. This statement highlights the challenges faced by policymakers in balancing economic growth with inflation control.
Key Takeaway: The emphasis on a restrictive monetary policy underscores the Fed's commitment to managing inflation, which remains a critical concern for the economy.
Sources:
- Genesis Mining bringt den ersten Bitcoin-Mining-Fonds für akkreditierte Investoren auf den Markt
- Block wird am Investorentag einen dreijährigen Finanzausblick bekannt geben und ein neues Aktienrückkaufprogramm im Wert von 5 Milliarden US-Dollar einführen.
- Hammack: Aufgrund der Inflation muss die Geldpolitik restriktiv bleiben
