Central bank-issued cryptocurrency might be financially beneficial for Canada and the U.S., as indicated by a central bank analyst.
What Do Numbers Say?
In a working paper published July 26, the Bank of Canada's S. Mohammad R. Davoodalhosseini states that presenting a central bank digital currency (CBDC) "can lead to an increase of up to 0.64 percent in consumption for Canada and up to 1.6 percent for the US, compared with their respective economies if only cash is used." read more
Rivemont Crypto Fund, a Canadian company owned by Rivemont Investments, keeps approximately 91% of its assets – $2.3 million – in fiat currency, and only the insignificant rest in Bitcoin.
Rivemont Putting an Eye on the Altcoins
Rivemont Investments offers investment strategies basing on the market’s volatility. Its subsidiary Rivemont Crypto Fund, established in December 2017, is the only active cryptocurrency fund in Canada, according to the official data. The fund trades Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Bitcoin Cash (BCH), and Ethereum Classic (ETC), and is registered in 3 provinces with the Ontario Securities Commission, the Alberta Securities Commission, and the British Columbia Securities Commission. Rivemont Crypto Fund is considering investments in Initial Coin Offerings (ICOs) and alternative coins such as Neo and Dash.