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The shares I sold at $133.7 were shares I bought within my self-directed Ameritrade Roth IRA.
You do not have to be an accredited investor to buy or sell shares of this stock, whose value is backed by the number of bitcoins it holds.
You do not have to be an accredited investor to buy or sell shares of this stock, whose value is backed by the number of bitcoins it holds.
This GBTC thing is such a joke. It's obvious that each of these long-announced big-things-turned-fiascoes leave a BTC in worse state then before, because of broken expectations that some serious funds can get hold of BTC without sending money to unregulated exchanges. Please, please, never again announce "Big money in BTC" before there is a real mechanism for it to reach there, you make more harm then good even if you are thinking that being positive can't do any damage. Well, it actually can when many expectations get broken again and again.
Explain to me if you are in charge of an institutional fund (e.g. endowment, pension) why on earth you would wire 20$million to bitstamp/finex/coinbase and buy bitcoins?
Have you read what I've written? That's exactly what I've said: They would never, ever, send money to unregulated exchanges. It's simply against their basic policies. Institutional money has no mechanism of acquiring significant amount of BTC, except for the FBI auctions which is not usual way how they do business. Even if they want to buy BTC they can't, putting aside question whether they want to do that or not. That's why I've said any "good-intended" announcement of big money entering BTC which ends up being false, leaves much more damage then idiot who announced it imagined.
Fortress Investment Group LLC(NYSE: FIG) Withdrawn 20$ million to MTgox and bought over 28K bitcoins.
No more bad excuses please! it's just that simple that no institutional fund wants this shitcoin any more.
They already know bitcoin is just a dying pyramid scheme, they will only build service to earn fees from this dying scam until it hit $0! they won't buy this shitcoin! so don't fool yourself with "wall st just hasn't found the way to get in".
Shame on you liars!
In its 2013 annual report, the 10-K filing it sends to the SEC, Fortress noted that it purchased $20 million worth of “Digital currency (Bitcoin)” in 2013. Its holdings at the end of 2013 were $16.3 million, and it recorded an unrealized loss of $3.7 million.
