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/
Bitcoin has been on a roller coaster ride since the pandemic began. Despite the digital currency’s recent volatility, Grayscale’s GBTC Bitcoin Trust has been buying the digital coin at a 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. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. 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 The Bitcoin Investment Trust is the first private investment vehicle in the U.S. to solely invest in bitcoin, according to a statement from SecondMarket released Wednesday.
Bitcoin: 3 Reasons Market Strategist Is ‘Increasingly Bullish’ Institutional Demand For BTC Soars
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 ... How to store your Bitcoin- Trust Wallet Tutorial Crypto Ninja. Loading... Unsubscribe from Crypto Ninja? Cancel Unsubscribe. Working... Subscribe Subscribed Unsubscribe 1.32K. ... 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 ... “Every day that goes by that bitcoin survives, the trust in it will go up.” Similarly, Alden said that other hedge funds have been investing or experimenting with Bitcoin as of late. Investors aiming to buy bitcoin through the capital markets can access an investment through Greyscale's Bitcoin Financial investment Trust (GBTC). For one, shares of GBTC are eligible to be held ...