Swiss investor Rainer-Marc Frey is expanding his position in cryptocurrencies by investing in a prominent five-year-old alternative to bitcoin currently undergoing a revival, finews.com has learned.
The fund-of-hedge fund pioneer is going deeper into the cryptocurrency world, after an initial investment in a digital token asset manager and trader. Rainer-Marc Frey is putting some of what Swiss magazine «Bilanz» reports as his 1.25 billion Swiss franc fortune into feathercoin, according to a blog post on «Medium».
The move coincides with a foundation set up in Zug last week to foster and promote the five-year-old token’s development and acceptance, which has got a fillip from the return of developer Peter Bushnell at year-end.
Source/More: Swiss Investor Digs Into Crypto