Investors around the world are seeking to profit from Bitcoin fever should have a clear direction of investment strategies instead Ly Gia Thanh way: buy Bitcoin and service providers to users virtual currency
According to John Greenwood, economist of the investment management company Invesco London branch, who contributed significantly to the fixed exchange rate regime of Hong Kong said: "Like the story miners and the shovel, investors who provide tools for the miners to dig for gold. In this situation, Li Ka-held role as distributor of virtual currency market and he will profit from the participants of their services. "
Through the venture capital firm Horizons Ventures her, the richest man in Asia - Ly Gia Thanh has used a portion of its assets invested in BitPay - an equivalent payment service PayPal. However, Horizons Ventures spokesperson was not disclosed details of how much investment. For its part, BitPay said they were "lucky to have a share of the profits of the other investors, including Horizons Ventures".
BitPay was established in May 2011 with a supporting role in trading activity of 14,000 companies in 200 countries worldwide. Of these, half of the transaction is located in the United States, 25% are located in Europe and 25% rest are widely distributed around the world.
In 2009, Bitcoin is known as a payment method using low-cost virtual money and without the participation of the parties 3rd service providers like banks and companies operating in card payment services . In particular, central banks of each country does not have the right to intervene directly in the process of circulation of money. Currently, the world has about 11 million Bitcoins are being traded in the online market.
Greenwood said that the Bitcoin is not as common as the common currency because it did not meet the minimum requirements, such as 3: intermediate material exchange for goods and services; Long-term store of value and is used in long-term transactions and payments are common units worldwide.
However, it is common in some countries and regions, particularly in some areas of China as the government does not enact laws against virtual currency circulating in the domestic market and foreign locations. Therefore, people can "accumulate" to add a clause to go abroad next maximum $ 50,000 per individual can bring over the border.
Mr Greenwood said: "I believe this is the reason why the price of Bitcoin skyrocketed so and it also contributes to force the Chinese government to enact laws against the yuan exchange into Bitcoin and vice versa . "
Chinese state banks require the service provider to stop billing for service delivery contract Bitcoin, litecoin and other digital currencies before January. Earlier, representatives of state-owned banks also require financial institutions do not provide services for virtual money.
At the end of last November, the exchange rate of Mt Gox, Bitcoin prices have hit record levels 1.242USD / VND (equivalent to 9,630 HKD). However, after the Beijing government participation virtual currency market regulation, price on the Hong Kong market has cooled down to 4,187 HKD.
For many investors, the exchange rate between VND erratic currency Bitcoin and the real world has caused them to be "fidgety". Typically the Falun Gong Buffalo musicians have invested in 100 Bitcoin prices 9,620 HKD / contract before depreciation to 4.187HKD / copper.
In addition, Bitcoin does not get more positive response from the government of Hong Kong whether it's getting the attention of the business community in the city. About a month ago, John Tsang Chun-wah, Financial Secretary predicted Bitcoin city probably will not last forever when "there is no support from real money."
Professor Chan Ka-keung, secretary general financial service center and administration sources said Bitcoin value increased at times also reduced and it is completely inappropriate for payment activities. "It can not afford to become a means of electronic payment. Therefore, people should be careful when using. "
