Hedge Fund Accepts Investments In Bitcoin

Feb 14 2014 | 9:21am ET

You can shop online with them, buy basketball tickets with them and even send your sweetheart a floral arrangement on this Valentine's Day with them. And now, you can invest in a hedge fund, with bitcoins.

New York-based NYSO HEDGE has begun accepting deposits in the controversial cryptocurrency. The firm started taking them a week ago—and in three days had garnered $5.4 million worth.

NYSO has called bitcoin 95% more secure than a credit card and 70% more secure than cash, and "has deemed bitcoin deposits as safe as wire transfers with careful research and considerations."

NYSO's bullishness comes at a difficult time for bitcoin. Recent weeks have revealed a critical software flaw in the digital currency, one that shut down several prominent bitcoin exchanges. And regulators have increased their scrutiny, with Russia recently banning its use.

No matter how you wish to invest with NYSO, it'll take the equivalent of a $25,000 deposit.


In Depth

Debunking Conventional Investment Wisdom

Feb 8 2017 | 3:22pm ET

Due diligence in the hedge fund world has long involved some combination of the...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

The Future of Private Equity: New Opportunities, New Challenges

Feb 3 2017 | 6:41pm ET

The private equity industry’s astonishing rebound since the financial crisis has...

 

From the current issue of