Tuesday, July 15, 2014

'COIN' to be Trading Title for Winklevoss Start-up

Earlier this month, Silicon Valley VIP's, The Winklevoss brothers released the exchange symbol for their new bitcoin ETF (exchange traded fund). The bitcoin mutual fund will go public under the mark 'COIN'.

The electronic money caught the brothers' eyes more than a year previously when the worth of the coins skyrocketed. They revealed strategies to invest in the popular online currency early July 2013. Since then, extra data has been released regarding exactly what it was turning into. In May, the twins, publicized they were taking the Winklevoss Bitcoin trust (their Bitcoin ETF) to NASDAQ. They consider the value of Bitcoin can increase tremendously with a legitimate presence in the market. On July 15, 1 Bitcoin was worth $621.45, an incredible investment opportunity if what the Winklevosses say is true. This figure has been steadily growing since the announcement of the fund.

'COIN' is nonetheless delayed in government regulation and there is no crystal clear or official announced date for the IPO, even though many experts are guessing that (based on government approval) the fund may be trading before the end of the year.

It is an exciting period for the virtual industry, but maybe what is most fascinating about bitcoin particularly is the way in which it is broadening into the real world.

Read more about this story at the New York Times and at coindesk.

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