Why This Cryptocurrency Fund Is Long Ethereum and EOS, Short Litecoin and XRP
Multicoin Capital, an Austin-based crypto hedge fund backed by Andreessen Horowitz’s Marc Andreessen and Chris Dixon, Union Square Ventures and other VCs, is extremely bullish on EOS, one of the largest positions in the $75 million fund. They are also extremely bullish on Ethereum. On the flip side, Multicoin differs from some other crypto funds in that it also shorts, or bets against cryptocurrencies whose prices it believes will fall. The two cryptocurrencies they are very bearish on are Litecoin, which they feel is a useless coin, and Ripple, which they feel is going to be deemed a security. Ripple is currently the third largest cryptocurrency by market cap. It's up 8.14% over the past 24 hours and is currently trading at $0.467937. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.