Bitcoin Attracts Wall Street Interests
Barry Silbert, chief executive officer of SecondMarket, revealed that growing Wall Street interest in Bitcoin is likely to fuel a rebound in the price of the digital currency.
Barry
Silbert, chief executive officer of SecondMarket, which has created a
private bitcoin-dedicated investment vehicle called the Bitcoin
Investment Trust, said he could count ten hedge funds interested in
investing in bitcoin, “each of which doesn’t get out bed if they don’t
have $50 million.”
“So,
I would not be surprised if there is something like $500 million in the
float right now, and if there is $500 million waiting to move into this
space, it will have a dramatic effect on the price,” Mr. Silbert said.
His
comments come after the price of the digital has fallen sharply in
recent months. Bitcoin’s price peaked at $1,147.25 on Dec. 4, according
to an index provided by news provider Coindesk, but has since fallen to
$450.61 due to the demands of the U.S. taxman and a string of negative
news.
Source: Wall Street Journal
