Mon, Oct 23, 2017
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. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad