Topic: 2013-12-31 CNN Money : Fortress is Forming a Bitcoin Fund (Read 2292 times)
This is huge.
http://finance.fortune.cnn.com/2013/12/31/fortress-is-forming-a-bitcoin-fund/
Quote
In September we discussed how SecondMarket had launched the first U.S.-based investment vehicle dedicated exclusively to Bitcoin, called The Bitcoin Investment Trust (beating out the Winklevii, who remain stuck in regulatory limbo). Now comes word that Fortress Investment Group (FIG) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering.
Great news! Thanks for posting this bobdude! :-)
Back in October the CIO of Fortress had recommended investing in bitcoin (http://www.zerohedge.com/news/2013-10-24/head-fortress-recommends-investing-bitcoin).
They manage ~ $58 billion so I think they are much larger than SecondMarket. SM is good, but if Fortress really markets it, it will be amazing for the market price. Even a 1% allocation would be a huge deal at the margin so large impact on prices.
http://finance.fortune.cnn.com/2013/12/31/fortress-is-forming-a-bitcoin-fund/
Quote
In September we discussed how SecondMarket had launched the first U.S.-based investment vehicle dedicated exclusively to Bitcoin, called The Bitcoin Investment Trust (beating out the Winklevii, who remain stuck in regulatory limbo). Now comes word that Fortress Investment Group (FIG) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering.
Much larger than Second Market?
Should get interesting pretty fast now. 
http://finance.fortune.cnn.com/2013/12/31/fortress-is-forming-a-bitcoin-fund/
Quote
In September we discussed how SecondMarket had launched the first U.S.-based investment vehicle dedicated exclusively to Bitcoin, called The Bitcoin Investment Trust (beating out the Winklevii, who remain stuck in regulatory limbo). Now comes word that Fortress Investment Group (FIG) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering.
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