Lord Jacob Rothschild, British nobleman, investment banker and member of the Rothschild banking family, has died at the age of 87. Rothschild stepped down as chairman and director of RIT Capital Partners (formerly Rothschild Investments) in 2019. However, despite this, he remained chairman of the investment trust until his death. The legendary financier, banker and philanthropist also has an inspiring background in cryptocurrency
Jacob Rothschild’s cryptocurrency journey
It was Lord Rothschild who began investing heavily in cryptocurrency and Blockchain start-ups under the leadership of RIT Capital Partners. The global crypto community first started discussing this trend in 2016, when the Rothschild family decided to abandon the US dollar for “other currencies.” Some enthusiasts have hinted that Bitcoin (BTC) will be a safe haven for legendary investors.
However, they announced their first investment in the cryptocurrency segment in 2021. The VC unit founded by Rothschild has partnered in an $8.8 million round for HK-based Blockchain platform Aspen Digital. Alongside Aspen Digital, GameFi pioneers Animoca Brands, creators of leading Web3 game The Sandbox (SAND), top-tier centralized crypto exchange ecosystem Kraken, and Dapper Labs, the NFT heavyweight behind CryptoKitties, NBA Top Shot and Flow (FLOW) ) L1 has also invested in Blockchain for digital collections.
RIT undergoes major portfolio shakeup in 2022 amid crypto crash
They never disclosed the exact amount of the investments. However, UK-based Rothschild Trust was said to invest 2-3% of its portfolio in Blockchain-related products. Among others, RIT Capital Partners backed financing rounds for Paxos Global, the Web3 platform behind USDP and other centralized stablecoins. The $4.6 billion investment trust faltered with its collapse caused by the FTX/Alameda drama, according to its 2022 report. Moreover, it halved its stake in cryptocurrency protocols following this dramatic crash.
Analyst: Bitcoin will peak at $54,000-58,000!
Popular analyst Michael van de Poppe published his Bitcoin price prediction. However, according to the expert, there will be a major price pullback when the halving occurs. The analyst expects the current Bitcoin rally to reach a peak at $54,000. He even says it is possible to extend the rally by reaching $58,000. This scenario will probably happen before the Bitcoin halving event in two months.
However, Poppe also pours some cold water on those who think that Bitcoin will continue its rise due to the halving effect. The analyst states that a “significant correction to $40,000-42,000” is likely after the halving occurs.
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