Media company TechCrunch founder Michael Arrington has announced that he is raising $100 mln for a hedge fund called Arrington XRP Capital. The fund will be mainly involved in the buying and holding of cryptocurrency assets, as well as in investing in token sales and some equities and debt.
According to Arrington, his entry to the virtual currency market marks the next stage of his professional career and he thinks that he will be involved in the sector until his retirement.
“In the last several months, I’ve gone from crypto enthusiast to 100 percent crypto. I’ve only been looking at crypto deals. This is what I think I’ll be doing the rest of my career.”