HKEX-listed tech firm launches $15M Bitcoin fund

Linekong Interactive, a gaming and film production company based in Beijing and listed on The Stock Exchange of Hong Kong (HKEX), has announced the launch of a $15 million fund dedicated to investing in projects that leverage the Bitcoin network.

Accelerating innovation in the Bitcoin ecosystem

The fund, named "BTC Next," aims to support emerging projects in the Bitcoin ecosystem. It will focus on areas such as asset issuance protocols, trading markets, expansion, virtual machines, NFT, RWA, and GameFi, according to Wang Fang, the founder of Linekong. This initiative will help accelerate the development and adoption of innovative solutions built on the Bitcoin network.

Unfolding the panorama of the Bitcoin network ecology

BTC Next plans to participate in the research and investment of Bitcoin network ecological assets as early as possible. The fund also intends to publish its investment portfolios and update the list of Bitcoin ecological crypto assets. This move reflects the growing expansion and programmability of the Bitcoin ecosystem, which has traditionally been less flexible compared to newer blockchains like Ethereum.

Growth of the Bitcoin ecosystem

This year has witnessed significant growth in the Bitcoin ecosystem, with the introduction of novel data storage methods like Ordinals and Inscriptions. These advancements allow users to create unique digital assets on the Bitcoin blockchain. Additionally, the support for BRC-20 Bitcoin tokens, modeled on the Ethereum ERC-20 standard, has expanded. BRC-20 tokens have already reached a market cap of $1.36 billion since their inception, with popular token Ordinals (ORDI) experiencing a surge of over 40% in value after being listed on Binance.

Linekong Interactive's $15 million Bitcoin fund demonstrates the increasing interest and investment in the Bitcoin ecosystem, as well as the growing recognition of its potential for innovation and development.