Crypto investor Justin Sun says willing to spend up to $1 bln on DCG assets.

Among the world’s foremost cryptocurrency investors and Chief Representative of Ripple’s Greater China Region (XRP), Justin Sun has revealed his intention to spend up to a billion U.S. dollars on assets from DCG. The DCG group has pioneered cryptocurrency asset management and investment and co-founded the largest Ethereum meetup group in Silicon Valley. Through this acquisition, Justin Sun hopes further to boost his already established reputation within the cryptocurrency community.

Value

While several investors have already shown their intention to join Sun’s portfolio through DCG, this is a first for the investor group regarding direct financial exposure. According to CoinMarketCap, Sun’s net worth exceeds two billion dollars, which is amassed through his forays into cryptocurrency and other ventures such as Peiwo. The value of DCG is more easily pinned down than a specific numerical value, but the company has also managed to set a stable presence since its inception. Due to the nature of the asset management industry and his existing contacts, Sun believes he can expand DCG’s reach across Asia with this acquisition.

Challenge

Suppose DCG is to be able to compete with other financial companies such as banks and traditional investment houses. In that case, they will have to maintain their focus on helping people access new asset classes. Using blockchain technology, they can innovate product offerings that provide a natural alternative to traditional bank accounts. To make their mission a reality, they must continue developing and expanding their existing projects and find new ways of increasing interest in the technology in the coming years.

Outlook

With Sun’s reputation in the cryptocurrency community, his announcement is likely to be well received. He has maintained a positive reputation within China and the United States, a vital aspect of any investment activity. Whether or not this announcement will ultimately lead to greater awareness and interest in DCG remains to be seen, but it could lead to future opportunities for the company.

Original source to learn more: https://www.forbes.com/profile/justin-sun/