Lately across the web, mainstream media has been highlighting an individual named James Altucher an American author, hedge fund manager, podcaster, and financial jack-of-all-trades. These days Altucher has been riding the trend of the bitcoin phenomenon, and some people call him a “cryptocurrency guru.” This week, public records show Altucher and his colleagues plan to raise $10Mn USD to launch a digital assets trading platform.
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Is 10M $ really enough to get a competitive Bitcoin exchange of the ground these days?
Back in the days of MtGox or Cryptsy that might have been possible, but the exchanges
market is so competitive these days.
E.g. Coinbase/GDAX raised 100M $ not so long ago:
https://www.coindesk.com/coinbase-bitcoin-100-million-series-d/
I find it unlikely that Altucher´s exchange will be able to compete with the likes of Coinbase if
he only raises an amount like this. Besides, he might be late to the party if the current bull run
comes to an end and people´s interests shift away from cryptocurrencies until
the next bull market.