Bitcoin up 8,723% in 2013 -MtGox High $1242 / Current Average: $677Submitted by MMJ Ministry on Mon, 10/21/2013 - 17:23
Well, here's a fact: The collapse of the Silk Road — the online drug-buying bazaar whose alleged founder was arrested earlier this month — has not destroyed Bitcoin, the digital currency that was used on the site.
In fact, the death of Bitcoin has been declared many times, and yet it continues to show impressive strength....
Read more: http://www.businessinsider.com/bitcoin-has-gone-on-an-insane...
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SecondMarket CEO: Wall Street Will Put 'Hundreds of Millions' Into Bitcoin
Wed, Dec 11, 2013
Wall Street is getting ready to dive into Bitcoin, pouring vast amounts of institutional and investor money into the digital currency that has been labeled a "bubble" by former Federal Reserve chairman Alan Greenspan and which not long ago was seen as the sole preserve of crypto-geeks, monetary-theory wonks and anti-government types.
Silbert says he meets frequently with hedge fund workers, traders at large financial institutions and others who want to gain a better understanding of digital currencies and figure out how to capitalize on them. He reckons that Wall Street will enter the Bitcoin market in roughly three waves. The first is already beginning, and it's taking the form of IRA money. Customers with self-directed IRAs at Fidelity, Pensco Trust Company, The Entrust Group and Millenium Trust Company are now able to invest some of their money in Bitcoin via the BIT. Silbert expects most other IRAs to approve the BIT as an investment vehicle before the second quarter of next year, in response to growing interest from their customers.
Also in this first wave will be clients of the wealth-management arms of Wall Street banks. Silbert says the BIT is in conversations with "several major banks" and he expects the trust to be an approved product on their wealth-management platforms within the first half of 2014.
The second wave will be hedge funds and other institutional investors.
Official Daily Paul BTC address: 16oZXSGAcDrSbZeBnSu84w5UWwbLtZsBms