26 Sep '13, 12am

SecondMarket goes all-in on Bitcoin, launching a private trust

SecondMarket goes all-in on Bitcoin, launching a private trust

SecondMarket’s trust is available to investors starting tomorrow. The company has more than 100 relationships with sources from which to acquire Bitcoin. That includes merchants who accept Bitcoin, early adopters sitting on large stockpiles of it, and current miners who are doing energy arbitrage by setting up server farms to mine for Bitcoin in parts of the world with the lowest energy costs. The company does rigorous diligence on its sellers to ensure it’s not acquiring drug money, I’m told. Investors in the trust will be able to sell their shares via auction; the value of the trust will be calculated and published daily.

Full article: http://pandodaily.com/2013/09/25/secondmarket-goes-all-in...

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