SecondMarket Bitcoin Investment Trust Valued at $61 Million USD

SecondMarket Bitcoin Investment Trust Valued at $61 Million USD

A net asset valuation of SecondMarket's Bitcoin Investment Trust has pegged its value at $61.1 million USD (or 67,300 BTC) in a matter of three months. The trust was established in order to allow institutional investors to dabble into bitcoin - and it's clearly working. Wall Street continues to keep their watchful eyes on the digital currency. SecondMarket CEO Barry Silbert says himself that the performance of the trust has surpassed even his expectations, with a goal to hit $10 million USD by the year's end. Last week, Fidelity Investments - in partnership with SecondMarket - allowed....


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Bitcoin Investment Trust Now Holding Over 100,000 Bitcoins

SecondMarket and Bitcoin Investment Trust Barry Silbert released an interesting tidbit of information on Twitter on Thursday afternoon. The Bitcoin Investment Trust now holds over 100,000 bitcoins, worth over $37 million at the present exchange rate. Back in December, the Trust was valued at over $60 million - though the rate of exchange at that point was much higher than it is today. Big milestone today for Bitcoin Investment Trust - now holds over 100,000 bitcoin http://t.co/nBzlaGupy4 cc @BitcoinTrust. - Barry Silbert (@barrysilbert) April 10, 2014. The Bitcoin Investment Trust was....

Barry Silbert Stepping Down From CEO Role at SecondMarket to Focus on Bitcoin

Barry Silbert: he's one busy businessman. From CEO of SecondMarket and the Bitcoin Investment Trust, in addition to the leader of the new Bitcoin Opportunity Corp., he's had quite a lot going on. And now we're learning via BusinessInsider that Silbert is planning to step down from his role as CEO at SecondMarket, an online illiquid asset marketplace. He's reportedly now exclusively committed to working on his bitcoin-related ventures, specifically the Bitcoin Investment Trust, which allows major investors to get involved with bitcoin in a secure manner. Silbert will still remain the....

SecondMarket launches Bitcoin Investment Trust, invests $2 Million

Article updated on October 1 at 11:44 BST. Private investment vehicle the Bitcoin Investment Trust (BIT) will today (26th September) begin raising capital on SecondMarket, the alternative trading system for private company stock. BIT, an open-ended private trust, invests exclusively in bitcoin and enables people to gain exposure to the digital currency without having to directly buy and store it. Shares of BIT, which is the first US-based private investment vehicle to invest exclusively in bitcoin, are being offered exclusively on SecondMarket. Initially, each BIT share will represent 0.1....

Bitcoin Trust, SecondMarket BTC Trading Desk to Bid in U. S. Marshals Bitcoin Auction

Some pretty big news coming from the SecondMarket/Bitcoin Investment Trust today. Company head honcho Barry Silbert took to Twitter on Saturday to announce that he's planning to form a syndicate to bid on a huge sum of bitcoins up for auction by the U. S. Marshals service. 1/Announcement: @BitcoinTrust and SecondMarket's bitcoin trading desk will be forming a syndicate to bid in US Marshals bitcoin auction... - Barry Silbert (@barrysilbert) June 14, 2014. The announcement comes following this week's headlines that the United States Marshals service is planning to auction off over 29,000....

SecondMarket's bitcoin offering defines new asset class

It's not every day that a new asset class is born. The last time was probably a few decades ago when managed futures funds became an accepted asset class among portfolio managers. Now, alternative trading system company SecondMarket has launched The Bitcoin Investment Trust (BIT), an open-ended, private trust that is exclusively invested in bitcoin and derives its value solely from the price of bitcoin. The private investment vehicle is based in the US and open to institutional and accredited individual investors. Alternative Currency Asset Management (ACAM), a wholly-owned subsidiary of....

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Virgin Galactic is a bold entrepreneurial technology. It's driving a revolution and Bitcoin is doing just the same when it comes to inventing a new currency.

Sir Richard Branson, Founder of Virgin Records, Virgin Galactic, and 400+ other businesses