Ripple XRP Could Hit $1.50 Today

Ethereum ETH

Ethereum ETH

It's also the first fund to accept capital in digital currencies.

The fintech startup - known for its a real-time gross settlement system, currency exchange, and remittance network - has invested $25 million of its own digital currency (XRP) into "a dedicated sidecar vehicle alongside Blockchain Capital's fourth venture fund", as reported by Fortune. The initial goal was to raise $125 million in Blockchain Capital IV LP, whereas the parallel fund was set to raise $25 million.

Johnson has compared the future of Blockchain technology to what was built off of the iPhone's software, which has become the base for some of the most successful startups in the world.

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Case in point: Venrock, the venture-capital arm of the Rockefeller family (estimated net worth: $1 trillion) has teamed up with the crypto investor group, CoinFund, to help entrepreneurs launch blockchain-based businesses.

With its largest fundraising round to date, Blockchain Capital now manages $250 million in assets with companies including the likes of Coinbase, Kraken, Circle, and notably Ripple, under its investment portfolio. The Fund which supports entrepreneurial ventures in the blockchain space, Ripple says will also provide an opportunity to identify new use cases for its XRP Ledger and Interledger Protocol. Blockchain Capital wants to use XRP in different fields like healthcare which they can believe can benefit largely from the distributed ledger technology.

"This is the first fund that we've contributed to, and it won't be the last", said Ripple's senior vice president of Strategic Growth, Patrick Griffin. At its peak last December, one Bitcoin was worth close to US$20,000.

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Ripple seems to have shown increasing interest in investing in other companies as of late.

The company, which recently airdropped a massive cache of XRP into USA public school coffers is hoping to stimulate interest in the creation of applications that use its currency and blockchain, which has attracted a lot of interest as a back-end technology in the banking industry, but has only been adopted by one other Coin thus far - the somewhat mysterious Allvor. Additionally, he also believes that Ripple is capable of improving legacy of banking systems and help streamline global money transfers.

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