Bitcoin Forum

Open up the flood gates  ;D

http://www.futuresmag.com/2014/09/22/bitcoin-fund-launches

and I'm sure they had nothing to do with the 20% drop right before they put their on the books money in  ;)

either way I'm interested to see how this goes

edit: after reading more it seems they'll be buying on exchanges. wow

GABI calls the bottom.

And you believe them? Oldest hedgefund trick in the book

Accumulate. Positive  PR.  Hedge.  Short.   Negative PR.  Accumulate again.  Rinse and repeat

Fair enough.

Does anyone know if there's a public address for them like second market? Would be interesting to see what they actually do.

+1

I don't even know what is this GABI. Is it something like an ETF?

does this mean they transferred their fiat to digitalbtc and are waiting with the buying until their entry point is reached? (maybe date or price level?)

no actual buy happened yet?

Soon they'll have to announce at what price they've bought and that will be bad news.

And they are probably not buying on exchanges either

There are more funds a;ready right? I don't think this is truly something entirely new.

First offshore banking sector bitcoin fund. http://www.globaladvisors.co.uk/

From the article "Bitfinex (Hong Kong) - Coinsetter (New York, USA) - have been approved by GABI's compliance department following an extensive due diligence process to make sure they fall within the operational limits imposed by our local regulator"

I don't mean to be pumping the GABI fund, but the offshore banking sector is one of the major areas that bitcoin can compete with, so it's nice to see some of the existing offshore sector realise this and try to get in on the action.

Hedge Fund GABI Makes First Bitcoin Purchase via DigitalBTC:

http://www.coindesk.com/hedge-fund-gabi-makes-first-bitcoin-purchase-via-digitalbtc/ (http://www.coindesk.com/hedge-fund-gabi-makes-first-bitcoin-purchase-via-digitalbtc/)

DigitalBTC has many options on how it gets those Bitcoins.  But it is very heavy into mining contracts.  So it's most likely these Bitcoins came straight from miners, relieving further selling pressure that would have been present if those Bitcoins had instead been sent to an exchange.  For those looking for another spike down to signify the bottom, GABI most likely intersepted and absorbed it.  The new direction is up.

Whoah. GABI calls the bottom the day that Paypal announces three partnerships? Someone call the SEC, that's a little too closely correlated to not wonder if there was collusion or some shared information between parties (personal opinion).

I just watched the price shoot from 400 to 420 over the last half hour, and volume is appearing out of nowhere... thank god I ate lunch in the office today :)

And it hits 450 almost on all exchanges...

ha ha ha
As the old Wall Street proverb goes...Buy on Rosh Hashana (or less than a day before  ;)), sell on Yom Kippur (Oct 3-4)
Bought a few yesterday at ~400. Nice.