What Is IMMO? - Rothschild Banking Dynasty Invests in Cryptocurrency - Coindoo

What Is IMMO? – Rothschild Banking Dynasty Invests in Cryptocurrency

Editorial Team Avatar
May 18, 2018
2 min reading time

The interest of large investors in cryptocurrencies and their market share is growing every day. In 2018, despite frequent criticism of Bitcoin and other digital assets, there is more and more information available about the growing attention given by major institutional investors in the development of the blockchain industry and cryptocurrencies investments.

On May 17th of this year, Rothschild & Co, one of the oldest banks in Europe, announced that the position of the 75-year-old David de Rothschild will be assumed by his successor and son, Alexandre de Rothschild. He becomes the 7th generation of the Rothschild family to manage the bank, which has been at the center of world financial markets for 200 years.

He is also interested in blockchain technology.

Alexandre has been interested in cryptocurrencies since the end of 2017, when he was the Executive Deputy Chairman of the investment management firm, Rothschild & Compagnie Gestion SCS. Since April, there have been rumors in the narrow circle of large cryptocurrency investors that Rothschilds are developing several cryptocurrency projects. At the moment, only one of them has been identified – IMMO. Our source reports that the implementation of IMMO is being monitored by Alexandre de Rothschild himself. However, full and open information about this project is still not available, as all developments remain highly confidential.

The connection between the Rothschilds and the cryptocurrency world is confirmed by recently published articles. In February, it became known that the Tether accounts of Bitfinex were opened in the Dutch bank ING, owned by The Rothschild Group, and a week later the financial company, Circle, whose main shareholder is Goldman Sachs, also controlled by The Rothschild Group, acquired Poloniex, a US-based crypto exchange.

Earlier this year, George Soros announced his readiness to invest in digital assets, despite his earlier criticism on that. And Venrock, which is a $3 billion company owned by the Rockefellers, has signed a partnership agreement with the Coinfund Investment Fund for investing in digital currencies and supporting innovation in the field of blockchain technology. David Pakman, a Partner at Venrock, was quoted in Fortune magazine: “We wanted to partner with this team that has been making investments and actually helping to architect a number of different crypto economies and crypto token-based projects.”

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