/biz/ - Business & Finance

A Dubai businessman is pledging to buy 100,000 Bitcoin worth up to $4.8 billion as part of a new company strategy.

To put that into perspective, it’s the largest investment of its kind in the world. And he’s planning to buy up roughly a quarter of the entire Bitcoin currency worth $17 billion.

Khurram Shroff is the Chairman of the IBC Group and has long been a big believer in cryptocurrency. Bitcoin has reached record highs this year and Shroff believes the value will keep increasing towards the end of the year. In which case his big gamble will have paid off.

Shroff is making the investment as part of his Miami Blockchain initiative. If successful, he hopes both Miami and Dubai can be two of the first cities in the world to be run by Blockchain, an amazingly safe form of computer transaction.

https://www.dubailad.com/dubai-businessman-plans-biggest-bitcoin-investment-in-history/