Bitcoin tech firm Blockstream said it's buying Adamant Capital, the bitcoin hedge fund manager founded by noted investor and analyst Tuur Demeester.

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.