Updated 31 Aug, 2021

Billionaire Fund Manager Plans to Increase Crypto Investments

Billionaire Fund Manager Plans to Increase Crypto Investments

Key Takeaways:

  • UK billionaire Simon Nixon is looking to boost his investment in bitcoin and other digital assets
  • Nixon’s investment fund, focused on technology, is also looking to hire a crypto analyst

Simon Nixon’s Seek Capital Ready to Increase Bets on Crypto

The UK-based billionaire investor Simon Nixon is planning to boost his investments in the cryptocurrency industry. Mr. Nixon, managing more than $1bn of personal assets, is running his own investment vehicle, a family office called Seek Capital.

Seek Capital is aiming to increase its “allocation to crypto as we feel it is an important area for the future,” the firm said in a statement. The family office, according to managing director Adam Proctor, is looking to pivot into bitcoin and cryptocurrency investments. Also, it is seeking to onboard an analyst that would help navigate the rotation to the fast-emerging market.

Simon Nixon also manages Seek Ventures, his London-based venture capital firm with focus on startup companies in the tech field.

Growing Interest from Family Offices Toward Bitcoin

The decision by Seek Capital to increase exposure to digital assets comes amid growing interest of the ultra-rich money managers to get involved in the crypto realm.

More precisely, family offices such as the one managed by Mr. Nixon, have been increasingly shifting their focus on cryptocurrencies. The inherent volatility in the price of bitcoin and other crypto coins, instead of discouraging, is attracting investors who run funds with their own fortunes.

A recent Goldman Sachs survey confirmed the emerging trend in family offices looking to allocate a significant amount of their holdings to cryptocurrencies. According to the findings, nearly half of more than 150 family offices are ready to add digital currencies to their portfolio of investments.

Some of the respondents in the survey said they saw bitcoin and other digital assets as a hedge for rising inflation, a characteristic often given to the original cryptocurrency.

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