Rothschild-Managed Huge Investment Trust Acquires Stake In Kraken Crypto Exchange

Kraken crypto exchange seems to have gotten the interest of a massive investment trust. Check out all the details below.

It’s been just reported that RIT Capital Partners which is a British investment trust managed by J. Rothschild Capital Management Limited, has just acquired a stake in the crypto exchange Kraken.

According to an official note that’s been published a few days ago, Investors in the trust were told about the stake during a webinar hosted by Numis Securities in late March.

Ewan Lovett-Turner, a director at Numis, told TheBlock that the note referred to “a secondary market purchase at what [RIT Capital] thought was attractive value.”

Both Kraken and RIT Capital declined to comment.

Check out the complete details in the original article and the official notes. 

The adoption of cryptos and the underlying tech, the blockchain has been one of the main goals that the crypto space has set. There have been a lot of moves made in this direction and the momentum is definitely still here.

Kraken in the news

At the beginning of this month, Kraken made headlines again after it’s been reported that Kraken’s CEO is really optimistic that Bitcoin will rise and a coin will be equal in value to one of the most expensive cars on the market.

During an interview on Bloomberg TV, Jesse Powell said that 1 BTC could be worth a Bugatti in under two years.

The online publication the Daily Hodl notes that the cost of the luxury car typically ranges from about $1.7 million to $3 million, while BTC is currently lingering around $60k.

“Probably by the end of the year, I think it will be one Bitcoin per Lamborghini, and probably by the end of next year, it will be one Bitcoin per Bugatti…” he said.

Stay tuned for more news.

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.