Topic: Fortress is forming a Bitcoin fund (Read 3272 times)
Positive news.
2014 will be the year venture capital and institutional investors move into BTC.
Fortress is big news, if true, as they will be long-term buyers.
This is also huge. Kitco with a Bitcoin section..
http://www.kitco.com/finance/bitcoin/
Lots of PM stackers will be seeing Bitcoin mentioned when they check their metals prices.
This is also huge. Kitco with a Bitcoin section..
http://www.kitco.com/finance/bitcoin/
Lots of PM stackers will be seeing Bitcoin mentioned when they check their metals prices.
Kitco is cool, great gold prices
Weird fucking website though
Fortress = Fortress Investment Group.
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
Ooh now it's exciting
Fortress is big news, if true, as they will be long-term buyers.
This is also huge. Kitco with a Bitcoin section..
http://www.kitco.com/finance/bitcoin/
Lots of PM stackers will be seeing Bitcoin mentioned when they check their metals prices.
This is also huge. Kitco with a Bitcoin section..
http://www.kitco.com/finance/bitcoin/
Lots of PM stackers will be seeing Bitcoin mentioned when they check their metals prices.
The fund itself may not hold any BTC but these are financial professionals. Not too hard to form a separate entity to acquire the BTC, hold them, and then sell them to the trust for a precontracted rate once the fund is setup and raises capital from initial investors. Essentially moving funds from one pocket to another. A lot of big deals are "done" before they are official done.
Anyone thinking Fortress is going to let something like this "slip" (and this "slip" is a strategic slip, it it called a trial balloon) and then go and hit BUY $150,000,000 USD worth of BTC at Market on MtGox is dreaming. It is a nice dream though.
However Fortress is a big name, and that means a wider audience to big money. The fund could start with $150M in assets and grow to a billion or more which means future purchases. Likewise first it was Second Market now (potentially it is just a rumor) Fortress. Those are the first movers, the risk takers, the innovators. The next thing is twenty other hedge funds doing the exact same thing because they don't want to lose client funds.
Imo, this will happen pretty quickly. Just like all the early "watchers" are trying to get into Bitcoin now, once Fortress starts seeing great returns, the other investment firm "watchers" will be tripping over themselves trying to get in the game. That's why I think 2014-2015 will be gigantic years for Bitcoin. Anyone thinking Fortress is going to let something like this "slip" (and this "slip" is a strategic slip, it it called a trial balloon) and then go and hit BUY $150,000,000 USD worth of BTC at Market on MtGox is dreaming. It is a nice dream though.
However Fortress is a big name, and that means a wider audience to big money. The fund could start with $150M in assets and grow to a billion or more which means future purchases. Likewise first it was Second Market now (potentially it is just a rumor) Fortress. Those are the first movers, the risk takers, the innovators. The next thing is twenty other hedge funds doing the exact same thing because they don't want to lose client funds.
If they've already bought coins, they probably had a lot to do with the runup from $100 to $1000. It's less of a big deal.
In the long run I think the latter is the bigger deal, because it would mean interest from credible mainstream investors. That could entice others to enter the market as well.
True. The big deal here isn't that fortress is buying coins. Its that the consumer public will be accessing bitcoin in significantly larger quantities.
If they've already bought coins, they probably had a lot to do with the runup from $100 to $1000. It's less of a big deal.
In the long run I think the latter is the bigger deal, because it would mean interest from credible mainstream investors. That could entice others to enter the market as well.
I am not sure what will occur in this case. However, typically when a commodity ETF launches or has an equity offering, the investment vehicle should first raises funds from investors and then purchases the underlying assets.
The fund itself may not hold any BTC but these are financial professionals. Not too hard to form a separate entity to acquire the BTC, hold them, and then sell them to the trust for a precontracted rate once the fund is setup and raises capital from initial investors. Essentially moving funds from one pocket to another. A lot of big deals are "done" before they are official done.
Anyone thinking Fortress is going to let something like this "slip" (and this "slip" is a strategic slip, it it called a trial balloon) and then go and hit BUY $150,000,000 USD worth of BTC at Market on MtGox is dreaming. It is a nice dream though.
However Fortress is a big name, and that means a wider audience to big money. The fund could start with $150M in assets and grow to a billion or more which means future purchases. Likewise first it was Second Market now (potentially it is just a rumor) Fortress. Those are the first movers, the risk takers, the innovators. The next thing is twenty other hedge funds doing the exact same thing because they don't want to lose client funds.
I am not sure what will occur in this case. However, typically when a commodity ETF launches or has an equity offering, the investment vehicle should first raises funds from investors and then purchases the underlying assets.
If they have raised cash but haven't bought coins, that's a huge deal. $150 million would raise the price of bitcoins massively.
If they've already bought coins, they probably had a lot to do with the runup from $100 to $1000. It's less of a big deal.
Fortress = Fortress Investment Group.
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
indeed great news. after second market the next big player in the cryptoworld.
I am not sure what will occur in this case. However, typically when a commodity ETF launches or has an equity offering, the investment vehicle should first raises funds from investors and then purchases the underlying assets.
How likely is it that they've already bought their coins?
Their initial coins? No doubt they have already bought them. I mean that is investing 101. However if successful the funds would continually attract new investors which means future purchases. I would point out FIG has not confirmed the rumor.
How likely is it that they've already bought their coins?
Very likely. There's no reason to leak their intents and make it more expensive for them to acquire a stash but all of the reason to acquire a stash and then leak info to raise the value of said stash
Fortress = Fortress Investment Group.
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
The multi billion dollar hedge fund company (>$50 Billion in assets under management) not the nobody scammer "Trade Fortress". Maybe that helps people see the headline in a new light.
http://en.wikipedia.org/wiki/Fortress_Investment_Group
How likely is it that they've already bought their coins?
Thanks for initiating my new year with such a good news. Indeed many wise investors have either purchased the bitcoin or are going to buy them soon. Therefore a big return on bitcoin may be attained if we follow the wise investors and buy them according to our affording
It's not trade fortresses is it?
didn't he form his retirement fund last year
Scammers are to greedy
It's not trade fortresses is it?
didn't he form his retirement fund last year
It's not trade fortresses is it?
One reason I stayed away from not clicking the article for awhile. I was expecting him to be talking rubbish again.
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