Dealbook – Bitcoin Gets Ready for its Close-Up

Dealbook – Bitcoin Gets Ready for its Close-Up:

Reporters Nathaniel Popper (@nathanielpopper) and Peter Lattman (@peterlattman) share some new investments made both in Bitcoin and Bitcoin startups.  Excerpts of their NY Times Dealbook article:

“Cameron and Tyler Winklevoss have been many things in a short time: Olympic rowers. Nemeses of Mark Zuckerberg. Characters on ‘The Simpsons.’ Now they can add a new label: bitcoin moguls.”

“The Winklevii — as they are popularly known — say they own nearly 1 percent of that, or some $11 million.”

“Now mainstream investments in the digital money are starting to emerge. On Thursday, a group of venture capitalists, including Andreessen Horowitz, announced that they were funding a bitcoin-related company, OpenCoin.”

“But the 6-foot-5 Winklevii were unfazed by the latest tumult. Indeed, the brothers said they used the low prices to buy more. They argue that bitcoin will have much further to soar once a broader audience sees its virtues: a unit of exchange that can be moved around the world at the click of a button without requiring any payments to Western Union or American Express.”

“‘People say it’s a Ponzi scheme, it’s a bubble,’ said Cameron Winklevoss. ‘People really don’t want to take it seriously. At some point that narrative will shift to [how] virtual currencies are here to stay.’ We’re in the early days.”

“For their part, the Winklevoss twins have used some of their bitcoin to pay for the services of a Ukrainian computer programmer who has worked on the site of their venture capital firm.”

“In addition to the purchase of bitcoins, they also say they have invested in a bitcoin-related company, but declined to disclose which one.”

“’It has been four years and it has yet to be discredited as a viable alternative to fiat currency,’ said Tyler Winklevoss. ‘We could be totally wrong, but we are curious to see this play out a lot more.’”


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