Quote from: RyNinDaCleM on January 18, 2015, 03:22:53 AM

Quote from: twiifm on January 18, 2015, 03:16:17 AM

Quote from: inca on January 18, 2015, 01:52:05 AM

Quote from: RyNinDaCleM on January 18, 2015, 12:28:32 AM

They have been trying to do this since 2012 and still haven't moved further along. Why would it change this year? The hoops to jump through are many, and the actual info (let alone positive info) are few and far between. It could happen, but don't base 20% of your annual prediction on this yet unknown.

Another thing, there is no proof that they will ever buy another Bitcoin for the fund. The net inflow would be to the ETF with the possibility of a bit of overflow into the actual underlying asset. I'm sure they will want to recoup some of their costs incurred over the last 2+ years, trying to make this a reality.

Given they are still 10x up on their initial investment of 100,000 coins I don't think costs are a major problem.

I thought their buy in price is around $200?

Not a chance! They did most of their buying between $5 and $15.

@inca, this is true, so maybe I'm wrong about them needing to recoup, but it doesn't change any of the rest of my statement.

http://dealbook.nytimes.com/2013/04/11/as-big-investors-emerge-bitcoin-gets-ready-for-its-close-up/?_r=0

They announced they owned $11M worth when the price was $266 then it crashed to $120. That's about coins 92K coins valued at the $120 price. How many coins are they rumored to have?