Falcon Global: Fund Closure No Sign of Declining Bitcoin Demand

Falcon Global Capital is taking aim at what it considers the misconception that the firm is struggling to garner interest after closing its bitcoin investment fund due to declining demand.
Such characterizations first emerged in a Bloomberg article that drew parallels between the fund closure and the decline in the price of bitcoin this year. Though the article suggested this development was perhaps negative for the company – which has often been portrayed as an investment fund, Falcon Global Capital believes it is simply moving to better capture already strong customer demand.
Speaking to CoinDesk, co-founder Brett Strapper stressed that while the fund has indeed been closed as reported, Falcon Global Capital did so actively and as a way to align its service with the needs of customers, most of whom aren’t interested in having third parties manage their bitcoin holdings.
Strapper suggested that the fund closure was part of a planned pivot that finds the one-year-old company shifting its efforts to prioritize its more popular consulting service, a shift that was approved in August and executed in November.

This post was published at Coin Desk on December 14, 2014.