25 Jun '14, 4am

Bitcoin Auction Draws Wall Street, Silicon Valley Bidders

Bitcoin Auction Draws Wall Street, Silicon Valley Bidders

Buyers from Wall Street to Silicon Valley are lining up to bid on a cache of bitcoins worth about $17 million, underscoring the interest in the digital currency even after its boom and bust. Pantera Capital Management, a San Francisco hedge fund backed by Fortress Investment Group, and SecondMarket Inc., a New York brokerage, are among those seeking to buy bitcoins from the U.S. government at an auction scheduled for June 27. A broad swath of interested parties, from individuals to institutional investors, have requested information from the U.S. Marshals Service, which is handling the sale. “I know of small and large investors who are talking about investing in this,” said Jaron Lukasiewicz , chief executive officer of Coinsetter Inc., a New York-based exchange. “And there are probably some hidden players out there -- hedge funds who are looking to get into the market.” T...

Full article: http://www.bloomberg.com/news/2014-06-25/bitcoin-auction-...

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