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Author Topic: 2013-03-08 Forbes/Matonis First Bitcoin Hedge Fund Announced  (Read 4937 times)
cypherdoc
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March 09, 2013, 05:46:25 PM
 #21

Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?

They have been acquiring BTC over the last 6-9 months or even earlier, but they wouldn't say their entry price. I'm fairly certain that their average is sub-$15. This is just the first time they've talked about it for a formal announcement. The $3.2 million is an estimate based on current BTC assets of 80,000 at $40:1 BTC exchange rate.

aha, so they're the ones. lol  Cheesy
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March 09, 2013, 06:54:28 PM
 #22

Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?

They have been acquiring BTC over the last 6-9 months or even earlier, but they wouldn't say their entry price. I'm fairly certain that their average is sub-$15. This is just the first time they've talked about it for a formal announcement. The $3.2 million is an estimate based on current BTC assets of 80,000 at $40:1 BTC exchange rate.
does that mean they stopped buying now?

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March 09, 2013, 07:11:34 PM
 #23

Great article!
Guess Matonis changed his mind about the whole regulation thing Wink

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March 10, 2013, 02:36:13 AM
 #24

Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?

They have been acquiring BTC over the last 6-9 months or even earlier, but they wouldn't say their entry price. I'm fairly certain that their average is sub-$15. This is just the first time they've talked about it for a formal announcement. The $3.2 million is an estimate based on current BTC assets of 80,000 at $40:1 BTC exchange rate.

A hedgefund is gambling? Shouldn't they normally try to be "risk-neutral" and go for the safe buck?
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March 10, 2013, 02:56:58 AM
 #25

Could somebody explain what this fund is doing in simple words? They took 2M5€ and bought Bitcoin with it? That cannot be it...
Basically IMHO they would have to act as kind of pass-trough for Bitcoin buying and selling. Any details available? When is (or did) their money gonna hit the exchange(s)?

They have been acquiring BTC over the last 6-9 months or even earlier, but they wouldn't say their entry price. I'm fairly certain that their average is sub-$15. This is just the first time they've talked about it for a formal announcement. The $3.2 million is an estimate based on current BTC assets of 80,000 at $40:1 BTC exchange rate.

A hedgefund is gambling? Shouldn't they normally try to be "risk-neutral" and go for the safe buck?
Like Goldman Sachs and Lehman Brothers?
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March 10, 2013, 02:59:24 AM
 #26

at least not gamble in a way you and I can understand...
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