Facebook twins launch Bitcoin investment fund
Tuesday 02 July 2013
The Olympian twins famed for suing Mark Zuckerberg have released plans to float a trust based on digital currency Bitcoin.
The Winklevoss twins, whose legal dispute over the origins of Facebook was made infamous in film the Social Network, have filed plans with US regulators to establish the Winklevoss Bitcoin Trust, a vehicle that will give investors exposure to Bitcoin.
The trust will initially sell $20 million (£13 million) worth of shares, with each share worth a fraction of a Bitcoin. The shares are aimed at investors looking for a “cost-effective and convenient means to gain exposure to Bitcoins,” according to the filing.
Bitcoins are a form of electronic money created by an unknown developer in 2008 as a peer-to-peer currency, traded through online networks such as Mt. Gox.
Bitcoins are not managed or traded by a single company or government and their release is tightly controlled by software running a set of algorithms.
Bitcoin has been extremely volatile since the start of the year, with many investors turning to them during periods of uncertainty over the Euro. The value of Bitcoin rose from $13 in January to a peak of $266 in April. It currently stands around $89.
- 1 2015 General Election: Green party will not appear in TV debate alongside Ukip – says BBC
- 3 Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
- 5 Of course, teenage girls need role models – but not like beauty vlogger Zoella
'Nasa Confirms Six Days of Darkness in December': No, they don't - it's a hoax
Canadian actor punched in face after 'Islamophobia' experiment goes wrong in wake of Ottawa shooting
Tim Cook: Apple CEO comes out as gay publicly for the first time 'It's among the greatest gifts God has given me'
Topshop at centre of row over body image as 'shocking' skinny mannequin photo goes viral
Halloween 2014: From the Screaming Man of Pluckley to the 'White Lady' of the Tower of London - Britain's 20 most haunted places
Pope Francis declares evolution and Big Bang theory are real and God is not 'a magician with a magic wand'
Huge surge in Ukip support after EU funding row, according to new poll
Ukip ‘exploiting grooming scandal’ to secure party’s first police chief
Nigel Farage: 'There’s nothing wrong with white people blacking up'
Muslims, immigration and teenage pregnancy: British people are ignorant about almost everything
Maureen Lipman says 'she can't vote Labour while Ed Miliband is leader'
iJobs Money & Business
£20000 - £23250 Per Annum pro rata: Clearwater People Solutions Ltd: Pro rata ...
£40 - 48k + Benefits: Guru Careers: We are seeking a Marketing Manager to join...
£45,000 - £65,000: Saxton Leigh: Our client is a well-known APAC Corporate and...
£60000 per annum: Ashdown Group: Compensation and Benefits Manager - Compensat...