[2018-04-08] First Soros, Now Rockefellers Move into Cryptocurrency

[FollowSynergy]

First, if reports are to be believed, legendary investor George Soros was found to be investing in cryptocurrency. Now, Venrock, a 3 billion USD venture capital firm owned by storied American family, the Rockefellers, have taken to crypto.

First Soros, Now Rockefellers’ $3 Billion Firm to Invest in Crypto

Limited liability venture capital firm, Venrock (a compound of “venture” and “Rockefeller”), is turning its sights on cryptocurrency projects and markets. Famously an investment vehicle of the Rockefeller family, the focus for Venrock since its inception nearly half a century ago is technology and science. Their investments are a laundry of list of dominant companies, from Intel and Apple, to AppNexus and StrataCom, among many, many others. Cryptocurrency seems like a logical progression.

Though the firm might not move the needle so much in crypto circles, at least at first, the family carries a certain cache with Americans. They’re best known for Standard Oil, which not only grew out of the late 19th and early 20th centuries to confer on the family previously unheard of levels of wealth, but was also subject to landmark Supreme Court decisions concerning monopolies. The family’s holdings are vast, as a tour of New York City would reveal: the Rockefeller Center, Museum of Modern Art, to the former World Trade Centers. They have also served in high government posts – from Vice President of the United States to Senator, and everywhere in between. Indeed a lasting tribute to the family’s incredible wealth is the very name itself being a synonym for outrageously rich.

Full article: https://news.bitcoin.com/first-soros-now-rockefellers-move-into-cryptocurrency/

[buwaytress]

I'll always remember how I first heard about Soros when I was still in school more than 20 years ago. Then Malaysian Prime Minister called him a "moron" and blamed him for single-handedly causing the Asian economic crisis (of that time)... and the devaluation of the national Ringgit. So it's not actually just Americans who identify with that name, but generations of Southeast Asians who lived through those tumultuous 1990s. Not particularly surprised at the u-turn. This guy has a nose for the future, or the means to influence it.

[thefaucetrunner]

Always a good sign when billionaires take notice. Except when they can change the rules. Let's hope the integrity of blockchain largely holds in the face of great wealth.

[richardsNY]

Next Assad's regime plans to buy up $2 billion worth of Bitcoin in the coming two years.

In all seriousness, all these news articles once again point out how much of a niche market everything related to crypto still is. I remember back in the days how new merchants accepting Bitcoin were being reported in the same way, where current articles are like a second chapter. Not sure how much value these reports have, but I'm not at all surprised if this becomes reality. Bitcoin's market has grown so much throughout the years, where most of these figures were already aware of its existence, but ignored it at that point, which is something they won't allow to happen again. Everyone wants a piece of this incredible opportunity, especially so if you think through that the possibilities of this asset class are almost endless....

[Lucius]

Since writers of such articles mostly aimed at sensationalism I'm surprised that they not a little spice up this story with some others big names like Rothschild family who invested in BTC last year.They certainly belong to the society of Rockefellers and Soros,and I guess that we may soon expect Warren Buffett to join the team.Then we can have the four riders of the crypto apocalypse

When we put joking aside I do not know how bad or good can be such news,from one side it may act positively on other investors,but if we assume that cash flow in crypto from such rich people will not be significant-then it will not change anything essentially.

[BitHodler]

Funny thing is that the people here and on social media are more impressed by these 'announcements' than the actual market itself is, and I'm glad it is like that. It would be somewhat pathetic if the market reacted on this.

On the other hand, I can't really remember when the last time was that the market actually responded to 'good news'. From what I have seen in the last year or so, the only thing the market responds to is 'bad news'.

If these bobos start to invest in futures and options instead of crypto then all people's excitement is for nothing. The only reason people are hyped is because they believe this will result in much higher prices.

[Harlot]

Funny thing is that the people here and on social media are more impressed by these 'announcements' than the actual market itself is, and I'm glad it is like that. It would be somewhat pathetic if the market reacted on this.

On the other hand, I can't really remember when the last time was that the market actually responded to 'good news'. From what I have seen in the last year or so, the only thing the market responds to is 'bad news'.

If these bobos start to invest in futures and options instead of crypto then all people's excitement is for nothing. The only reason people are hyped is because they believe this will result in much higher prices.

Agreed Bad news really has a negative and somewhat long lasting effect on the market. Good news like this are often translated to as nothing and they will always assume that this kind of news will have no affect on BTC whatsoever. Just like the positive news on the G20 summit as well as Japan having better regulations to their cryptocurrency exchange it made no significant impact on Bitcoin's price proving that FUD is worst, maybe it is because we are in the down market already that is why there is no hope in a good news.

[Ishiro5]

I think the bigger question we all should be asking is; what might be the motive of these guys coming to invest in crypto now. According to Ian's 4th dimension right up on manipulation of btc price, are these guys part of the clique that have driven the price down to this level, wiping away over $500billion in not so long a time. If these guys were part of the manipulation, are we not likely to see another sort of this kind of manipulation in the nearest future which would really be bad for the space...there is more to this than meets the eye