A new investment fund, El Zonte Capital hopes to bring the Bitcoin Beach experience to everyone. Controversial journalists and podcasters Max Keizer and Stacy Herbert joined forces with Swan Bitcoin’s Cory Klippsten to put their money where their mouth is. Zonte Capital has $5 million in committed funds, and that’s just the beginning.
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The place where El Salvador’s Bitcoin Law began, El Zonte AKA Bitcoin Beach is the inspiration behind the company. “El Zonte is hyperbitcoinization. Hyperbitcoinization is economic freedom, and hyperbitcoinization is our main investment thesis,” Keizer told Bitcoin Magazine.
Max Keizer and Stacy Herbert launch El Zonte Capital https://t.co/tZvf7u7Pte
– The Zonte Capital 🏄🌋🇸🇻 (@ElZonteCapital) February 15, 2022
For the past two months, Keizer and Herbert have experienced bitcoin life firsthand by living in El Salvador. Speaking about his conversations with politicians and businessmen across the country, Herbert said: “We have been asking all of them hard and deep questions and discussing their plans at length. This is the place to be.” Keizer added: “After experiencing what it really looks like, we see this as the inevitable near future for everyone else. We’re riding this wave like any surfer would.”
What will El Zonte Capital do?
To get into the thick of things, we give the microphone to Cory Klippsten of Bitcoiner Ventures. He said, “We hope to facilitate a two-way exchange of ideas and resources, with companies from around the world bringing their products and services to El Salvador, and companies based in El Salvador exporting their innovation to the rest of the world.”
The trio is no stranger to investing, or investing specifically in bitcoin. As a partner of Bitcoiner Ventures, Klippsten has a stake in Raincoat, Zion social network, the Breeze wallet; and giants like Galoy, Unchained Capital and Bitrefill. For their part, Keizer and Herbert have investments in Kraken, Swan Bitcoin and Bitfinex.
BTC price chart for 03/11/2022 on Bitstamp | Source: BTC/USD on TradingView.com
Should you bet on El Salvador?
The founding members of El Zonte Capital could not be more optimistic about bitcoin and El Salvador. Keizer told Bitcoin Magazine: “The future is all around us. I haven’t been this excited about Bitcoin since I first heard about Bitcoin.” Herbert added: “El Salvador is attracting the smartest and most creative people. Jack Dorsey recently said that ‘a big part of the future is happening in El Salvador.’ , and he’s not wrong. The future is now and it’s right here “
A Bitcoin conversation was had
— Stacy Herbert 🇸🇻 (@stacyherbert) February 11, 2022
Your answer to the title question is a resounding yes. “We will look at education and educational technology to incorporate as many people as possible. El Salvador will be bigger than Singapore.” Keizer’s prediction here is ambitious, to say the least. But bitcoin is legal tender in El Salvador and not in Singapore. And bitcoin companies know it.
Can El Zonte Capital shake up the market?
What does “hyperbitcoinization is our main investment thesis” mean? It means that El Zonte Capital is betting on the whole world adopting bitcoin. Will that happen overnight? Probably not. So the mutual fund is playing the long game. In addition, they are financing companies that will probably take years to get off the ground.
This is the move to watch. Our first real #bitcoin Citadel now has a war chest. Get ready ✊ https://t.co/LhpaumPmZm
— Ray Youssef (@raypaxful) March 11, 2022
So no, El Zonte Capital will not shake the market right away. However, if you narrow down your time preference, you will be able to see the importance of this investment fund. His capital allocation is aimed at making the El Salvador experiment successful. Also, they are not investing in the bitcoin network present. The Zonte Capital looks to the future. Planting the seeds of what is to come.
Related Reading | The 411 On “Adopting Bitcoin”, a Lightning Network conference in El Salvador
So yes, El Zonte Capital and the companies it finances will affect the market at a future date. If all goes according to plan, hyperbitcoinization will take over the world. That is the day for which El Zonte Capital bets.
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This post What is El Zonte Capital? Could Keiser, Herbert and Klippsten shake up the market?
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