The total assets of the Tezos Foundation reach over $ 600 million, 47% of which is Bitcoin

The total assets of the Tezos Foundation have reached over $ 600 million, 47% of which is Bitcoin

The Tezos Foundation - a non-profit organization behind the Tezos protocol, has owned a total assets of $ 635 million as of January 31.

Nearly half (47%) of these assets are Bitcoin (BTC), according to 6-month report published by this platform on Thursday.

Holding after Bitcoin is the original token of the organization - Tezos (XTZ), accounting for 23% and a stable fund holding 16%, including assets such as bonds, ETFs and commodities.

Although Bitcoin accounted for a large part of the organization's total assets, the share of the king's coin dropped from 61% in July last year, and the total assets also fell from $ 652 million at the time.

Tezos Foundation's total asset value has continued to decline due to the recent collapse of traditional financial and cryptocurrency markets.

Source: Tezos Foundation
Source: Tezos Foundation

The Tezos Foundation raised $ 232 million through Bitcoin and Ether (ETH) during its initial public offering (ICO) in 2017. ETH now also contributes a portion of the organization's "other investments" with just 6%.

The Tezos Foundation is responsible for providing grants to projects under construction on the Tezos network. Since August 2019, the fund has pledged funding for 78 projects with a total amount of $ 37.6 million, according to the report.

Ryan Jesperson - President of the Tezos Foundation, said the Tezos developer community has seen significant growth in recent months.

“The Tezos Foundation has surpassed its goal of training 1,000 new Tezos developers by 2019. This growth becomes even more apparent when more than 450 Tezos lovers appear in New York City at the end of September in the Society. First global Tezos conference. ”

In the future, "a range of teams" is expected to launch Tezos-based products in 2020, Jesperson said.

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According to The Block
Translated by ToiYeuBitcoin

Nguyen Diep

My name is Nguyen Manh Cuong. I was born in a poor village in Ba Vi district, HA NOI province - windy and sunny land. Currently

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