On October 12th 2021, Celsius Network announced an investment led by WestCap and CDPQ at a valuation more than $3 Billion.
>> See original Press Release Here
Now some would say, good for you Celsius, you got 500 Million dollars to grow the company. Some are confused and think the 12th biggest pension fund in the world just spent 500M on a ERC-20 token.
Well, just to clear the air, they didn't buy the CEL token, they bought equity in the company. But really what this is about is the credibility of the people who wrote those checks. We are talking big institutional money showing their vote of confidence in the crypto space as well as the crypto lending space.
This was after nine months of due diligence in the company and going through the fine details of all aspects of their operation. This is great news for everybody. If those big institutions were afraid of a crackdown on crypto by governments, they wouldn't have added crypto lending platform to their portfolio.
Conclusion
I own CEL token and have almost all my crypto portfolio earning yield with Celsius Network. I now feel even more comfortable with what I have in there. This 500M investment is almost like an insurance behind my portfolio since the clients will be paid before the equity owners if anything were to happen. I'm very excited about what is coming up with Celsius...including a credit card that issue debt based on collateral (very low interest fees), in-app high liquidity swap, insurance and more.