“We formed our first fund, the Low Time Preference Fund, with the express intention of investing in great Bitcoin companies we believe would form the future foundation of the global economic and monetary infrastructure,” according to a Ten31 press release shared with Bitcoin Magazine.
In the release, Ten31 said it was inspired by similar grants distributed by groups like the Human Rights Foundation, Square and Brink.
“We had not seen any other funds leveraging this model, and part of our hope was that other funds would see what we were doing and consider doing the same,” per the release.