Friday, 28 February 2014

Fortress Investment Group reports a $3.7 million loss on Bitcoin

The first public company to invest in Bitcoin had a $3.7 million paper loss on the digital currency, according to a Securities and Exchange Commission filing.
Fortress Investment Group, which was founded as a private equity fund but expanded into hedge funds and other types of investments, reported that it bought $20 million worth of Bitcoin in 2013. The company was still holding onto its Bitcoin as of the filing, meaning it could recoup its losses and even make money if the currency's value rebounds.
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