Saturday, 28 February 2015
Last updated 1 day ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…