Here’s some pretty interesting news coming from the news wires.
It’s been freshly announced that the Global Advisors Bitcoin Investment Fund (GABI) has deployed their fund assets into bitcoins after completing an initial offering period in early September.
The price of bitcoin is low. Our last quote was $402 USD at Bitstamp, which means the timing if this is incredible for the fund.
The press release issued today notes that the bitcoin purchase was done with digitalBTC, a digital currency solutions company with locations in Boston, Massachusetts, Tinton Falls, New Jersey, and outside in the United States in Australia.
“We are delighted to have executed our initial over-the-counter bitcoin purchase with digitalBTC and we look forward to expanding our relationship as GABI’s assets grow. digitalBTC offers GABI valuable liquidity and price discovery while being a strong counterparty,” said Daniel Masters, Director of GABI, and co-founder of Global Advisors Jersey Limited (GAJL).
Bill Brindise of digitalBTC adds, “Our digitalX Direct platform is specifically designed to provide real time liquidity for institutional investors and large commercial operators who purchase bitcoins. As a publicly listed company, subject to strict reporting and disclosure requirements, we are also very pleased to be dealing with GABI, given their licensing regime and look forward to being able to provide similar liquidity in future.”
Jean-Marie Mognetti, Director at GAJL adds, “In addition to digitalBTC, GAJL also established relationships, based on trust and transparency with a limited number of exchanges. These exchanges – Bitfinex (Hong Kong) – Coinsetter (New York, USA) – have been approved by GABI’s compliance department following an extensive due diligence process to make sure they fall within the operational limits imposed by our local regulator.”
The release adds that GABI is now open for additional subscriptions on a monthly cycle.