Sun, Feb 7, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Demand for Bitcoin comes from geographic areas most affected by Cypriot financial crisis

Tuesday, April 02, 2013

amb
Nicholas Colas
Benedicte Gravrand, Opalesque Geneva: - The digital currency Bitcoin hit $100 yesterday (and $102 today), and has outperformed every currency this year. Its value on 1st January was under $15.

Bitcoin (or BTC) was created in 2009 as an open source software code by an unknown programmer (or several) and is a form of virtual cash shaped by demand and used to buy goods and services online. According to Bloomberg, there are approximately 10,952,975 Bitcoins in circulation with a market cap of around $864m. So it has become quite a phenomenon.

"In Spain, Google searches for "Bitcoin" and downloads of Bitcoin apps soared; Someone put out a press release promising a Bitcoin ATM in Cyprus. Far away, in Canada, a man said he'd sell his house for BTC5,362," Bloomberg comments.

We even heard in early March of the launch of the fist Bitcoin hedge fund by Exante, a brokerage company founded two years ago and based in Malta. Exante's Bitcoin Fund permits institutions and high-net worth individuals (although not those from the U.S.) to access the Bitcoin market with a licensed product, ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Computer-driven hedge funds make money during January’s selloff[more]

    Komfie Manalo, Opalesque Asia: Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies. Data provider