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Blockstream Buys Demeester's Adamant in Expansion Into Bitcoin Investment Products
Demeester will stay on as an adviser.
Bitcoin tech firm Blockstream said it's buying Adamant Capital, the bitcoin hedge fund manager founded by noted investor and analyst Tuur Demeester.
STORY CONTINUES BELOW
- Demeester, who first became involved in crypto back in 2012 when he recommended bitcoin as an investment back when it was priced at $5, will remain as an adviser.
- Vancouver-based Blockstream said the purchase lays the foundation for a new division, Blockstream Finance, which will offer bitcoin investment products on the Liquid Network.
- The division will be headed by Blockstream's current VP of financial products, Jesse Knutson.
- Blockstream was founded by CEO Adam Back, the creator of bitcoin precursor Hashcash, Bitcoin Core developer Gregory Maxwell and nine others including Pieter Wuille, Erik Svenson, Jonathan Wilkins, Austin Hill and Jorge Timon.
- Financial terms were not disclosed.
Read more: Blockstream Hosts BlockFi’s New Bitcoin Mining Venture
Kevin Reynolds
Kevin Reynolds is editor-in-chief at CoinDesk. Prior to joining the company in mid-2020, Reynolds spent 23 years at Bloomberg, where he won two CEO awards for moving the needle for the entire company and established himself as one of the world's leading experts in real-time financial news. In addition to having done almost every job in the newsroom, Reynolds built, scaled and ran products for every asset class, including First Word, a 250-person global news/analysis service for professional clients, as well as Bloomberg's Speed Desk and the training program that all Bloomberg News hires worldwide are required to take. He also turned around several other operations, including the company's flash headlines desk and was instrumental in the turnaround of Bloomberg's BGOV unit. He shares a patent for a content management system he helped design, is a Certified Scrum Master, and a veteran of the U.S. Marine Corps. He owns bitcoin, ether, polygon and solana.
