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

Creating An Offshore Hedge Fund Dream Team: The Seven Key Players

Jun 26 2015 | 6:47am ET

If you want to set up an offshore hedge fund, like any great team, you’re only...

Lifestyle

Hedgies Set to Compete in Wall Street Decathlon

Jun 8 2015 | 12:37am ET

The Wall Street Decathlon — a 10-event physical challenge that will crown “Wall...

Guest Contributor

6 Essential Principles To Balance Your Investment Risk

Jun 26 2015 | 10:07am ET

In this article, financial expert Greg Silberman explores how to hedge a private...

 

Editor's Note