05 Aug '13, 3pm

Famed foreign-exchange trader Joe Lewis backs bitcoin:

Famed foreign-exchange trader Joe Lewis backs bitcoin:

Joe Lewis, a billionaire foreign-exchange trader who teamed up with hedge-fund manager George Soros in 1992 to bet against the Bank of England, is the latest high-profile financier to throw his weight behind the virtual currency called bitcoin. Mr. Lewis leads the Phoenix Fund, a Zurich-based private-equity fund that on Tuesday plans to invest $200 million in Avalon, a company that makes computer servers aimed at creating bitcoins, according to people familiar with the situation. Bitcoin is a virtual currency that exists online and isn't backed by any government or central bank. Bitcoins were invented in 2008 by a computer programmer who goes by the pseudonym Satoshi Nakamoto, who describes it as a peer-to-peer electronic cash system. Enlarge Image Close ZUMAPRESS.com Joe Lewis's Phoenix Fund is investing in a bitcoin company. The Phoenix Fund's investment in Avalon reflec...

Full article: http://online.wsj.com/article/SB1000142412788732399700457...

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Famed Trader Joe Lewis Backs Bitcoin

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Joe Lewis, a billionaire foreign-exchange trader who teamed up with hedge-fund manager George Soros in 1992 to bet against...

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Famed Trader Joe Lewis Backs Bitcoin via @WSJ

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