The Dubai-based crypto fund \u2018FD7 Ventures\u2019 will sell over $750 million in Bitcoin in the coming month to buy Cardano and Polkadot, The company announced yesterday. Both blockchains are networks that can support low-cost smart contract implementation and offer scalability to new developers.Cardano and Polkadot are more valuableThe fund has more than $1 billion in net assets, most of which are in Bitcoin. FD7 executives say that BTC has served its purpose and that new blockchains are better than BTC.\u201cApart from the fact that Bitcoin was the first to hit the market and society has given it meaning as a store of value, I think Bitcoin is actually quite useless,\u201dsaid Prakash Chand, general manager at FD7, in a statement.He added that Ethereum, Cardano, and Polkadot would eventually be more valuable than Bitcoin in the coming years. Chand said the two projects formed the basis of the new internet and Web3. A term used recently to describe the emerging generation of internet startups who do business in a peer-to-peer manner without intermediary intervention.Charles Hoskinson, The Founder of Cardano, is pleased with the decision of the crypto fund. \u201cWelcome FD7 Ventures into the ecosystem. Let us know if you need technical support,\u201d he tweeted.Welcome FD7 Ventures to the ecosystem https:\/\/t.co\/CmQdOCDJ2x let us know if you need any technical support and we\u2019d love to see you on Catalyst.- Charles Hoskinson (@IOHK_Charles) February 25, 2021FD7 claims to have already started purchasing Cardano\u2019S ADA and Polkadot\u2019s DOT.<\/p>","protected":false},"excerpt":{"rendered":"
The Dubai-based crypto fund \u2018FD7 Ventures\u2019 will sell over $750 million in Bitcoin in the coming month to buy Cardano and Polkadot, The company announced yesterday. [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2796,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3767"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=3767"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/3767\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=3767"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=3767"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=3767"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}