91% of the assets of the canadian cryptocurrency funds are in Fiat currencies

According to the report of the canadian cryptocurrency Crypto Rivemont Foundation Fund, as of July 13, 91% of the Fund’s assets (about 3 million canadian dollars or 2.3 million USD) are in Fiat currency and only 9% in bitcoin.

Cryptocurrency Fund Rivemont was founded on 14 December 2017, 4 days before bitcoin peaked at 19 511 USD. Rivemont is the only actively managed crypto Fund in Canada and is registered with the securities Commissions of Ontario, Alberta and British Columbia.

«Right now the crypto market is in the power «bears» and so people are waiting and watching to see what will happen next,» — said the President and a portfolio Manager of the Fund cryptocurrency Rivemont Lalonde Martin (Martin Lalonde).

Currently, the Fund is legally restricted and allows investing only in six of cryptocurrency: bitcoin, Ethereum, litecoin, ripple, Ethereum and Bitcoin Cash Classic. However Lalande hoped that with the development of industry, the Fund also will be able to start to invest in ICO and altcoins, such as NEO and Dash.

«Many people think that the interest in cryptocurrencies has dried up, but it is not so. I am sure that everything happens exactly the opposite,» wrote Lalonde on his page in Facebook.

Lalonde invested a little more than half of the Fund’s assets in bitcoin and Ethereum July 4, when the 30-day moving average has crossed the trendline and sold on July 10, when indicator and trend met again. In the period from March to July 2018, the Fund lost about 10% against a 32% drop in bitcoin over the same period.

«Most likely in the market for a long time will be today’s largest cryptocurrency, with investors know about them and many keep them in the portfolio. I’m considering adding to the portfolio of smaller cryptocurrencies, those who still have a speculative capacity to show the best results,» added Lalonde.

As for bitcoin, Lalonde believes that it will continue to be volatile, but in the next couple of years it will reach new highs.

«We are very optimistic about bitcoin and are confident that it will easily double and even triple its price relative to current levels,» said Lalonde.

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