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Institutional investors are also getting into the bitcoin game. For my hedge fund that invests in digital currencies like bitcoin and Ethereum, I use Genesis Trading. Block trading desks, like Genesis Trading, give institutional investors the ability to buy large amounts of bitcoin with very little slippage.
Barry Silbert has spent a lot of time and care shaping his technology investment company, Digital Currency Group. Its mission: to accelerate development of a better financial system.
The 4th Quarter of 2015 saw robust activity on the trading desk at Genesis Global Trading, Inc. (Genesis), with the total number of transactions, the total notional value of BTC traded (USD) and the total number of BTC traded all showing sharp increases from the 3rd Quarter.
Bitcoin, the digital currency heralded as a potential successor to the global monetary system, is up about 37 percent against the U.S. dollar since the beginning of the year. The cryptocurrency went for about $313 at the beginning of the year, according to CoinDesk's composite price index, and is now changing hands at around $430.
After a long period of quiet, the price of the virtual currency Bitcoin is surging again as signs of interest from China and Wall Street have helped kick off a new speculative frenzy.
Major bitcoin industry companies including Digital Currency Group (DCG) subsidiary Genesis Trading and bitcoin hedge fund Binary Financial are set to participate in a government auction of just over 44,000 BTC (worth $18.3m at press time) to be held on Thursday.
Another day, another monster run for bitcoin traders.
Bitcoin was trading at around $240 in the beginning of October. Now – after a gain of 10% on Tuesday added to its earlier run, its closer to $400.
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