[ad_1]
The Layer1 cryptocurrency investment and infrastructure platform successfully closed a $ 2.1 million loan round. Investors who took part include PayPal co-founder Peter Thiel and Barry Silbert's Digital Currencies Group.
Layer1 increases $ 2.1 million with the help of Peter Thiel
Despite the prolonged bearish market of 2018, the Layer1 cryptocurrency investment platform, led by Alexander Liegl, successfully managed to secure $ 2.1 in initial funding.
According to the official version, the financing round included major investors such as Barry Silbert's Digital Currency Group and PayPal co-founder Peter Thiel. Recent bitcoinist reported that Thiel has also invested in a new startup that helps big investors to exchange bitcoins.
Speaking on the issue was Travis Scher, VP Investments at the Digital Currency Group, who noted:
We believe that there is enormous potential for a practical, mission-based investor to take a concentrated position in a single cryptocurrency and thus devote talent and resources to significantly accelerate its development.
A proactive approach
Unlike typical cryptographic asset investment platforms, Layer1 has a fairly different approach. The company takes a long-term position in some digital assets, which bring promising technologies and network effects.
Therefore, Layer1 uses its capital and resources to improve the fundamental value of the resource in which they invested and support a further market uptake. Reportedly, Layer1 is currently involved in a private currency known as Grin and, as such, intends to build an integral technology to foster its growth.
Notes Alexander Liegl, co-founder of Layer1:
We believe that the encrypted investment company of the future will be radically different from the status quo, with a clear focus on an engineering and pro-activist investment approach. […] Cryptocurrencies, as open source protocols, offer unprecedented opportunities for companies like Layer1 to add significant value. This is fundamentally different from the possibilities available in traditional asset classes.
What do you think of the Layer1 encrypted investment platform? Do not hesitate to let us know in the comments below!
Images courtesy of Shutterstock
