26 Sep '13, 6pm

SecondMarket Establishes New Bitcoin Trust for Accredited Investors

SecondMarket, the online platform where private company stock can be traded, has created a private trust investing exclusively in the digital currency Bitcoin . The newly minted Bitcoin Investment Trust will make it possible for investors to buy a stake in the Bitcoin market without directly purchasing the currency themselves. The value of the trust will derive solely from the price of Bitcoin, SecondMarket explained. The trust is open only to accredited investors, and the minimum investment is $25,000. For individuals, being an accredited investor means having a personal net worth or assets under management of $1 million or more, not counting the value of one's home. SecondMarket itself has sunk $2 million into the Bitcoin Investment Trust. Perhaps to sway prospective investors, the trading platform also hosts a "Bitcoin education center " to provide up-to-date news and a...

Full article: http://www.entrepreneur.com/article/228597

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