Renvale Capital expands Bitcoin portfolio

Bitcoin has had an impressive year. It has risen in value, standing at $8201 at the time of writing and spun off into 2 different entities that allow for better usability and widespread acceptance as a form of payment by corporations.

Cryptocurrencies has even expanded into the world’s dominant derivatives marketplace, the Chicago Mercantile Exchange (CME) announced plans to begin offering Bitcoin futures by the end of 2017.

Headlines like these have been prevalent and are seen to be associated with the public’s fanatical demand to ride on Bitcoin’s bullish trend.

Since the announcement, opinions have been divided on whether Bitcoin is still too new and uncharted to be integrated into our official money system.

No matter what the latest ever-changing Bitcoin news bring, one thing is for sure, the value of Bitcoin is on course to reach the $10000 US dollar mark.

Over time, even critics of Bitcoin have begun to gradually embrace it. Most notably, JPMorgan Chairman and CEO Jamie Dimon had publicly criticized Bitcoin in November 2015, declaring it a ‘fraud’ and even admonished JPMorgan traders who traded Bitcoin by saying, “I’d fire them in a second.”

However, the CEO is forced to eat his words as the financial powerhouse is currently holding talks on giving their clients access to trade Bitcoin futures via their own brokerage unit, charging a fee for the provision of service.

Japan on the other hand, have been an avid supporter of Bitcoin since the beginning, and in 2017, passed a bill to legalize Bitcoin.

With a legal framework in place, CME group has proceeded to sign an agreement to launch the first Yen denominated Topix futures contract outside of Japan, expected to start in the first quarter of 2018.

Renvale Capital is a pioneer in Bitcoin trading since 2012 and manages over 5.2 billion assets. Since the introduction of bitcoin trading to their product offering, year on year growth has been exponential, making it a relatively new strategy to grow capital.

Their analysts and traders monitor trade signals on Bitcoin related assets and isolate technical patterns to achieve 90% accuracy on their trades.

Most recently, Renvale Capital has unveiled plans to participate in the CME foreign futures contract as it leverages on its extensive experience and expertise in the industry.

Tapping into the futures market will bring a new dimension to Renvale Capital’s trading arm and it will be an exciting progression following a tremendously successful year thus far.

Renvale Capital continues to establish a wider presence in areas where Bitcoin gains acceptance and remains a part of the new financial innovation era.