Crypto venture capital firm Sora Ventures aims to raise $1 billion to help bolster Bitcoin treasuries in Asia, the firm announced on Friday. 

Starting with $200 million from partners and investors, the firm seeks to accumulate a further $800 million for BTC over the next six months. 

“This is the first time that Asia has seen a commitment of this magnitude toward building a network of Bitcoin treasury firms, with capital commitment towards Asia’s first $1 billion treasury fund,” said Sora partner Luke Liu in a statement. 

The firm said its fund will act differently from other Bitcoin investment vehicles in the region, like the publicly traded firm Metaplanet, which holds 20,000 BTC worth more than $2.2 billion on its balance sheet. 

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Author: Logan Hitchcock