31 Dec '13, 5pm

Fortress is forming a Bitcoin fund

Multi-billion dollar investment manager dives into Bitcoin craze. FORTUNE -- In September we discussed how SecondMarket had launched the first U.S.-based investment vehicle dedicated exclusively to Bitcoin, called The Bitcoin Investment Trust (beating out the Winklevii, who remain stuck in regulatory limbo). Now comes word that Fortress Investment Group (FIG ) is prepping its own Bitcoin fund, which likely will be much larger than the SecondMarket offering. Details remain scarce, although there are some rumors that info could be revealed tonight at the Bitcoin New Year's Eve Bash down on Broad Street (yes, this is an actual thing). So what we are left with are some breadcrumbs: Fortress earlier this year acquired Koru Ventures, a provider of patent-backed loans to tech companies, in order to launch an IP finance group. Among Koru's principals (and new Fortress employees) w...

Full article: http://finance.fortune.cnn.com/2013/12/31/fortress-is-for...

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Fortress Investment Group Is Launching A Bitcoin Fund by @rjwile

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