Bitdollar Fund today announced the details of its Initial Coin Offering (ICO) for its planned cryptocurrency fund. The Bitdollar ICO (bitdollarico.com) will begin on August 4th, and its pre-sale will start on July 4th. Investment minimums vary during the pre-sale, but the investment minimum during the ICO will be only 0.1 Ether, or roughly $50 at the time of this writing. Prices per token in the pre-sale range from $0.55 to $0.95, and prices range from $1.00 to $1.11 during the ICO, increasing by 1 cent per week.
The fund’s initial cryptocurrency components (Ethereum, Bitcoin, Ripple, and asset backed cryptocurrencies) are set by its President. However, starting in December of 2018, the holders of Tokens will collectively decide percentage allocations of each component through stakeholder voting. Then in October of 2019 and annually thereafter in the fund elections, Token holders will collectively decide its cryptocurrency components and percentage allocations to each. The fund also features “non-core” cryptocurrency components, which are ideally backed by physical assets such as oil and gold. These non-core components are meant to provide uncorrelated returns to major cryptocurrencies, while also having the impact of reducing volatility and providing a relatively safer environment for new investors in cryptocurrency to get started.
“Bitdollar Capital, the management company of Bitdollar Fund, aims to provide clarity to the cryptocurrency community, by guiding fundamental analysis and facilitating research, while also providing a relatively safe place for those that are new to cryptocurrencies to get started. There is a lot of confusion and hype in the cryptocurrency field, and there are many profiting from this lack of clarity. We hope to make a positive difference in this respect, and help investors understand the fundamentals of what they are investing in.” said Nick Kitcharoen, President of Bitdollar Fund and CEO of Bitdollar Capital. “Overall though, our mission as collective investors is to provide the best returns among the best cryptocurrencies on a long-term, fundamental basis. We will have a fundamental analysis debate about major cryptocurrencies as a community via our forums and our investor videos, and we will collectively manage the fund through annual investor elections. The process itself should be quite interesting.”
Bitdollar Fund, a Cayman Islands limited company, will utilize fundamental analysis while investing in major cryptocurrencies and have a long-term investment horizon. The fund also aspires to provide clarity to the cryptocurrency community and provide a safer place for investors that are new to cryptocurrencies to get started. Cryptocurrency investing involves significant risk of loss and is not suitable for everyone. Please do your own research or consult your investment professional before investing.
Source: IRISH TECH NEWS