A brand-new mutual fund, El Zonte Capital wishes to bring the Bitcoin Beach experience to the whole world. Questionable journalists and podcasters Max Keiser and Stacy Herbert signed up with forces with Swan Bitcoin’s Cory Klippsten to put their cash where their mouth is. El Zonte Capital has $5M in committed funding, and that’s simply the beginning.
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The location where El Salvador’s Bitcoin Law began, El Zonte AKA Bitcoin Beach is the inspiration behind the endeavor. “El Zonte is hyperbitcoinization. Hyperbitcoinization is financial flexibility, and hyperbitcoinization is our primary investment thesis,” Keiser said to Bitcoin Magazine.
Max Keiser & & Stacy Herbert Launch El Zonte Capital https://t.co/tZvf7u7Pte
—– El Zonte Capital < img src= "https://s.w.org/images/core/emoji/13.1.0/72x72/1f30b.png" alt="" class=" wp-smiley" style=" height: 1em; max-height: 1em;"/ >< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/1f1f8-1f1fb.png "alt ="" class =" wp-smiley" style= "height: 1em; max-height: 1em;"/ >( @ElZonteCapital) February 15, 2022 For the last two months, Keiser and Herbert experienced the bitcoin life first-hand by living in El Salvador. Speaking about their conversations with politician and merchants around the country, Herbert said, “We’ve been asking hard, deep concerns to all of them and discussing their strategies thoroughly. This is the place to be.” Keiser included, “After experiencing what it really looks like, we see this as the unavoidable future for everybody else. We are
riding this wave as any surfer would.” What Will El Zonte Capital Do? To get into the meat of things, we offer the mic to Bitcoiner Ventures’ Cory Klippsten. He stated, “We want to help with a two-way exchange of concepts and resources, with companies worldwide bringing their services and products to El Salvador, and business based in El Salvador exporting their development to the remainder of the world.”
The trio is no stranger to investing, nor to bitcoin-specific investment. As a partner in Bitcoiner Ventures, Klippsten has a stake in Impervious, social media Zion, the Breeze wallet; and giants like Galoy, Unchained Capital, and Bitrefill. For their part, Keiser and Herbert have financial investments in Kraken, Swan Bitcoin, and Bitfinex.
BTC rate chart for 03/11/2022 on Bitstamp|Source: BTC/USD on TradingView.com
Should You Bet On El Salvador?
El Zonte Capital’s charter member couldn’t be more bullish on bitcoin and El Salvador. Keiser told Bitcoin Magazine, “The future is all around us. I have not been this excited about Bitcoin since I initially heard about Bitcoin.” Herbert added, “El Salvador is drawing in the most intelligent, most imaginative people. Jack Dorsey recently said that ‘a big part of the future is occurring in El Salvador,’ and he’s not wrong. The future is now and it is right here”
Bitcoin conversation was had
< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/1f499.png" alt="" class= "wp-smiley" style=" height: 1em; max-height: 1em;"/ >
< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/1f680.png" alt =" "class=" wp-smiley" design="height: 1em; max-height: 1em;"/ > pic.twitter.com/kOdxvBC9yX– Stacy Herbert< img src=" https://s.w.org/images/core/emoji/13.1.0/72x72/1f1f8-1f1fb.png" alt ="" class= "wp-smiley "design=" height: 1em; max-height: 1em;"/ > (@stacyherbert) February 11, 2022 Their answer to the title’s question is a definite yes.” We will look at education and education innovation to onboard as many people as possible. El Salvador will be bigger than Singapore. “Keiser’s prediction here is enthusiastic, to state the least. But bitcoin is legal tender in El Salvador and not Singapore. And bitcoin companies know this.
Can El Zonte Capital Shake The Market?
What does “hyperbitcoinization is our main investment thesis” suggest? It implies that El Zonte Capital is betting on the whole world embracing bitcoin. Will that happen overnight? Most likely not. So, the mutual fund is playing the long game. Likewise, they’re moneying business that will probably take years to remove.
This is the move to enjoy. Our very first real #bitcoin Citadel now has a warchest. Prepare yourselves
— https://t.co/LhpaumPmZm– Ray Youssef (@raypaxful) March 11, 2022
So, no, El Zonte Capital will not instantly shake the market. Nevertheless, if you lower your time preference, you’ll be able to see the importance of this mutual fund. Their capital allocation aims to make El Salvador’s experiment successful. Plus, they’re not investing in today of the bitcoin network. El Zonte Capital is taking a look at the future. Planting the seeds of what is to come.
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So, yes, El Zonte Capital and the business they fund will hopefully affect the marketplace at a future date. If everything goes according to strategy, hyperbitcoinization will take control of the world. That’s the day El Zonte Capital is banking on.
Included Image by 12019 on Pixabay|Charts by TradingView