SecondMarket users just got this email regarding Bitcoin Investment Trust (BIT)
I’m excited about today. Over the past two years I’ve become a big believer in bitcoin, the digital currency and transaction network. Friends, colleagues – honestly, anyone who would listen – have heard me describe the potential benefits of bitcoin. It could be this generation’s store of value, or a true global currency, or a better money transfer network. Or all three. Or perhaps not. Bitcoin faces regulatory hurdles and widespread adoption concerns that make investing in bitcoin a very risky proposition. There is a real possibility that the price of bitcoin drops to zero. It is challenging to buy, store and secure bitcoin, and many investors simply don’t want to deal with the hassle of it. Yet there is an excitement about the prospects for bitcoin and we know some investors are looking to allocate a percentage of their portfolio to bitcoin. That’s why I’m pleased to announce the launch of the Bitcoin Investment Trust (BIT), a private vehicle for institutional and accredited investors that is invested solely in bitcoin and derives its value from the price of bitcoin. Qualified investors gain exposure to the price movement of bitcoin without the challenges of buying, storing and safekeeping bitcoins. Alternative Currency Asset Management, LLC, a wholly-owned subsidiary of SecondMarket, is the sponsor of the fund. SecondMarket has a long track record of making alternative assets more accessible to a broader group of investors. Our infrastructure enables streamlined capital raising, investor communication and periodic liquidity for private funds, so we believe a private, bitcoin-related fund is a perfect fit for the SecondMarket platform. Bitcoin is clearly not for everyone. If you don’t know much about bitcoin, take a look at our education center and perhaps it’ll pique your interest. But if you’re an accredited investor interested in getting exposure to bitcoin, take a look at the materials and decide for yourself.
SecondMarket’s Bitcoin Investment Trust Amasses $61.1m in 3 Months
"The BIT, launched as a vehicle for institutional investors to get into bitcoin, stood at a $61.1m (67,300 BTC) net asset value on Friday. Shares in the Trust edged along for around two weeks after its inception on 26th September. Following this, they began creeping up, before beginning their meteoric rise around 4th November. The net asset value (NAV) per share peaked a month later, before falling back. In short, the NAV of the BIT has tracked bitcoin’s own price movements very closely. Barry Silbert, CEO at SecondMarket, said that performance has exceeded his expectations." http://www.coindesk.com/secondmarkets-bitcoin-investment-trust-amasses-61-1million-in-3-months/
SecondMarket, a firm that allows brokers to buy and sell shares in private companies, is now allowing investors to buy and sell shares through a Bitcoin trust.The mind behind this new project is Barry Silbert, an entrepreneur and cryptocurrency investor, who owns SecondMarket. Click HERE to find out ⭐ SecondMarket, Bitcoin Investment Trust, Settle with the SEC. Crowdfund Insider: Global Fintech News, including Crowdfunding, Blockchain and more. Article updated on October 1 at 11:44 BST. Private investment vehicle the Bitcoin Investment Trust (BIT) will today (26 th September) begin raising capital on SecondMarket, the alternative trading ... This evening, SecondMarket, took a further step into the Bitcoin space through announcing its new work with the Bitcoin Investment Trust (BIT), a private investment vehicle.The BIT is the first U.S.-based private investment vehicle to invest in bitcoin alone and received a $2 million seed investment from SecondMarket. SecondMarket invested $2 million in the bitcoin trust, which has also received initial interest from money managers, traders, family offices and technology entrepreneurs, said Silbert.
Bitcoin Trust Wins 48,000 Bitcoins Auctioned by U.S. Marshals
In Gold and Bitcoin We Trust – The Goldnomics Podcast – Episode 5 In this the fifth episode of the Goldnomics Podcast we interview Ronald-Peter Stoferle, par... Bitcoin scaling, on-chain vs. off-chain. Trustless second layer technologies. Lightning Network. Requiring a super-majority to make changes to the protocol, ... Nicole Lapin interviews Barry Silbert, CEO of SecondMarket, for "Bloomberg West." -----... David B. Kinitsky, SecondMarket, Inc. and The Bitcoin Investment Trust #Bitcoin - Duration: 19:11. NewFinance 539 views. 19:11. The art of being yourself Caroline McHugh ... *Barry Silbert- Founder & CEO of SecondMarket and Founder of Bitcoin Investment Trust *Jeremy Liew- Partner, Lightspeed Venture Partners *Fred Wilson- Partner, Union Square Ventures *Cameron and ...