The syndicate was organized by SecondMarket, but it has nothing to do with SMBIT.
In principle, SMBIT should buy bitcoin only when some investor buys SMBIT fund shares. After months of stagnation, there were some large buys by SMBIT over the past month.
What are large buys exactly?
And where is this info listed.
BIT should go live very very soon. I think Barry held off to get this batch of coins cheaply before BIT goes live and drives the price up significantly.
I also think this is what gave Barry Silbert the guts to bid higher than everyone else; he knows BIT is a done deal.