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

Royalties: The Alternative Assets of the Music Industry

Jul 8 2016 | 7:01pm ET

Recent market volatility has investors seeking greater insight into alternative...

Lifestyle

Vortic: Making Great American Watches Again

Jul 25 2016 | 6:29pm ET

If you are compelled by stories of entrepreneurial vision & drive, or simply...

Guest Contributor

MPI: Like Stellar Returns? Better Understand the Risks First

Jul 22 2016 | 8:44pm ET

When the press reports extraordinarily strong relative or risk-adjusted returns...