Sun, Dec 11, 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. Institutions - Texas County & District culls 5 hedge funds, reallocates to existing managers, Kentucky board gives final approval to halve hedge fund portfolio, $38bn Finnish fund moves assets to U.S. as Europe flounders, South Korea’s National Pension Fund holds 5% stake in 62 listed companies[more]

    Texas County & District culls 5 hedge funds, reallocates to existing managers Texas County & District Retirement System, Austin, continues to reduce the number of hedge funds, but not the size of its $6.2 billion hedge fund portfolio. It will redeem a total of $760 million from five hedg

  2. Opalesque Roundtable: Australian family offices search for good risk adjusted returns, happy to pay for skill[more]

    Komfie Manalo, Opalesque Asia: Australian family offices want foremost good risk adjusted returns, and they are happy to pay for the skill, and in some cases, the limited capacity of an active manager. Jonas Daly, Head of Distribution at B

  3. StepStone announces close of Swiss Capital acquisition[more]

    StepStone Group LP announced it has successfully closed the acquisition of Swiss Capital Alternative Investments AG, one of the leading private debt and hedge fund solutions providers in Europe. The transaction was originally announced in May 2016, and has been in the process of receiving regulatory

  4. Investing - Stephen Cohen investing $275m in free clinics treating veterans' mental health issues, California Resources loses favor with hedge funds[more]

    Stephen Cohen investing $275m in free clinics treating veterans' mental health issues From Healthcarefinancenews.com: …Now, a new chain of free mental health clinics for vets has opened in five cities across the United States to fill the gap. The much-needed new treatment is underwritten

  5. Hedge funds flat in last week of November 'in sympathy with markets’[more]

    Komfie Manalo, Opalesque Asia: Hedge funds were close to flat in the last week of November in sympathy with markets, which took a pause ahead of the OPEC meeting and Italian referendum. The Lyxor Hedge Fund Index was -0.1% as of end November 29 (-1.7% YTD), according to the latest