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 and the Bitcoin Investment Trust expect to participate in the auction and will allow others to submit bids for aggregation in the process. Silbert’s Bitcoin Investment Trust allows investors to put in large sums of money as means of getting involved in the bitcoin market, so it’s no surprise they’re getting involved with the auction as a means of getting their hands on an ... 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. 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 ... 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. Now there is a new fund for Bitcoin being promoted by SecondMarket. The Bitcoin Investment Trust is being launched as a private and open-ended trust which is invested exclusively in Bitcoins and ...
Bitcoin: Bubble or Boom? (Jeremy Allaire, Barry Silbert, Olaf Acker) DLD14
A talk about bitcoins with Jeremy Allaire (Circle), Barry Silbert (SecondMarket/Bitcoin Investment Trust), moderated by Olaf Acker (Booz digital). DLD (Digital-Life-Design) is a global network on ... 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 ... This is a quick introduction to our Bitcoin event kicking off on Monday, November 24th in the Broadway Room at Lerner Hall. More info here http://on.fb.me/1y... Bitcoin Investment Trust, an investment fund focused on the digital currency for high net-worth individuals, has won the bidding for 48,000 bitcoins auctioned last Thursday, Brendan O'Connor ...