Monthly Report - November:

Result: the NAV/share increased by 12.24%.

Our previous report was posted on November 25th. We refer to this post for information on the Fund until that date.
In the last couple days, we noticed the Bitcoin exchange rate culminating. Additional news reports from third parties made us decide to sell the majority of our Bitcoins for over $1100 each. Fortunately, we have indeed seen the price decline to $980 (on Bitstamp) as of this moment. We expect the Bitcoin price to decline even further.

Furthermore, we have paid back our fiat debt, which was borrowed in the beginning of the month. These funds gained a return of almost 200% until November 30th.

Although nothing to do with the BITOBS fund, I have personally gained staggering results from my altcoin fund, which I have been operating since May. This has been a passive investment until last week where active trading and new investments have led to an increase in the total NAV by 453% since May.

We will allow the BITOBS to gain results from investing in altcoins as well by adding this new strategy to our investment fund. This will be described on our website this week.  

Overall it has been a good and educational month, and we are pleased with the result.